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Gold rises on Chicago Fed remarks


Xinhua
27 Sep 2021

CHICAGO, Sept. 27 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Monday as investors reacted to remarks from the Chicago Fed president.

The most active gold contract for December delivery rose 0.3 U.S. dollars, or 0.02 percent, to close at 1,752 dollars per ounce.

Speaking to the National Association for Business Economics annual conference in Virginia on Monday, Chicago Federal Reserve President Charles Evans said though the U.S. economy is close to having met the Federal Reserve's bar for beginning to reduce its bond purchase program, he believes current higher-than-expected inflation does not call for an imminent liftoff in interest rates once tapering is completed.

U.S. Department of Commerce reported Monday that new orders for U.S. manufactured durable goods increased 1.8 percent in August, better than expected, capping gold's growth somewhat.

Silver for December delivery rose 26.9 cents, or 1.2 percent, to close at 22.694 dollars per ounce. Platinum for October delivery rose 1.7 dollars, or 0.17 percent, to close at 981.6 dollars per ounce.

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