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5/3, 9:08 PM (Source: TeleTrader)
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Precious metals rise after US manufacturing data

Precious metals traded higher on Monday after the manufacturing sector activity in the United States slowed down even as it stayed in the expansion territory, according to the latest economic data reports. The data releases seemingly drove down market players' confidence about the US economy and possibly caused them to shift their focus to safe-haven assets.

Gold gained 1.36% to $1,792.98 per ounce at 3:04 pm ET. Silver jumped 3.86% to sell for $26.89 per ounce at the same time.

Palladium rose by 1.11% to $2,971.31 per ounce at 3:05 pm CET. Platinum increased by 2.63% to change hands for $1,232.36 at the same time.

Breaking the News / MS