WASHINGTON (dpa-AFX) - Gold futures settled lower on Monday, after three successive days of gains, as the greenback climbed higher after U.S. President-elect Donald Trump threatened to impose a 100% tariff on BRICS countries if they pursue new currency alternatives to the U.S. dollar.
The dollar's rise was also due to lingering concerns about French politics after France's far-right leader Marine Le Pen gave the strongest indication yet that she's prepared to topple the government in the coming days.
The dollar index, which climbed to 106.73, gave up some gains, but at 106.52, still remained well above the flat line, gaining 0.73%.
Gold futures for December closed down $22.10 or about 0.83% at $2,634.90 an ounce.
Silver futures for December settled at $30.449 an ounce, losing $0.236 or about 0.77%, while Copper futures for December dropped to $4.0765 per pound, down $0.0040 or 0.1% from previous close.
In economic news, the Institute for Supply Management released a report on Monday showing its reading on U.S. manufacturing increased by more than expected in the month of November but continued to indicate a contraction.
The ISM said its manufacturing PMI rose to 48.4 in November from 46.5 in October, although a reading below 50 still indicates contraction. Economists had expected the index to inch up to 47.5.
Construction spending in the U.S. increased more than expected in the month of October, according to a report released by the Commerce Department. The report said construction spending climbed by 0.4% to an annual rate of $2.174 trillion in October after inching up by 0.1% to a rate of $2.165 trillion in September. Economists had expected construction spending to rise by 0.2%.
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