Gold futures on the COMEX division of the New York Mercantile Exchange fell on Monday as U.S. dollar index rose.
The most active gold contract for June delivery fell 6.90 U.S. dollars, or 0.35 percent, to close at 1,992.20 dollars per ounce.
Investors are digesting JPMorgan Chase’s buying of business and deposits of the First Republic Bank, which had teetered on the edge of collapse for weeks, ahead of the Federal Reserve’s monetary policy meeting scheduled on May 2 and 3.
Meanwhile, much of Europe is on the May Day holiday.
Economic data released Monday are mixed. The Institute for Supply Management’s manufacturing purchasing managers’ index (PMI) registered at 47.1 percent in April, 0.8 percentage point higher than the 46.3 percent recorded in March.
The seasonally adjusted S&P Global US manufacturing purchasing managers’ index posted 50.2 in April, up from 49.2 in March and broadly in line with the earlier flash estimate of 50.4.
Investors are waiting for the monthly jobs report due out Friday.—Xinhua
