- CNTV English - CCTV News

Homepage > News > Biz >

Gold inches down on profit taking

06-01-2011 08:14 BJT

CHICAGO, May 31 (Xinhua) -- Gold futures on the COMEX Division of the New York Mercantile Exchange declined a little on Tuesday, as profit-taking stepped in following sharp rebound. Besides, decreased safe-haven demands also helped weigh on the market.

The most active gold contract for August delivery declined 50 U. S. cents, or 0.03 percent, to 1,536.8 dollars per ounce.

Market analysts said that some investors opted to cash in their profits after gold sharply rebounded in the prior trading days. Gold has been rallying since the middle of May and gained 1.8 percent in the last week.

Besides, it is reported that Germany is considering dropping its insistence on an early rescheduling of Greek bonds to allow for a new package of aid loans to prevent Greece from defaulting on its debt, which also took away some of the safe-haven buying for gold.

However, Gold concluded May with a 1.2-percent loss amid strengthening U.S. dollar.

Silver for July delivery gained 44.2 U.S. cents, or 1.2 percent, to 38.305 dollars per ounce. Meanwhile, platinum for July delivery climbed 34 U.S. dollars, or 0.06 percent, to 1,834 dollars per ounce.

Editor:Yang Jie |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program