Gold futures closed higher on Monday (May 16) as the depreciation of the dollar caused gold futures to rise slightly. Weak U.S. economic data also supported the gold price.
- The gold futures were up $5.8, or 0.32%, to close at $1,814 an ounce.
- Silver futures were up 55 cents, or 2.62%, at $21.551 an ounce.
- The platinum contract was down $5.4, or 0.58%, at $925.3 an ounce.
- Palladium was up $84.90, or 4.42%, at $2,002.60 an ounce.
Gold contracts are rallying after the dollar index fell 0.36% against the six major currencies in a basket of currencies to 104.1870, a weaker dollar would make gold contracts cheaper for investors holding other currencies.
The Federal Reserve Bank of New York released the Empire State Manufacturing Index, which fell to a negative level in May after a strong rebound in April.
The New York Fed reported that the manufacturing index fell to -11.6 in May from 24.6 in April, with an index below zero indicating a decline in New York manufacturing.
The Spot Market is Open
Tuesday, May 17, 2022
| Metals Updated at | USD Bid/Ask | Ounce Change | Low/High |
| Gold 11.00 | 1,823.20 1,824.20 | -0.70 -0.04% | 1,821.90 1,830.20 |
| Silver 11.00 | 21.56 21.66 | -0.04 -0.19% | 21.52 21.74 |
| Platinum 11.00 | 941.00 951.00 | -1.00 -0.11% | 940.00 957.00 |
| Palladium 11.00 | 1,918.00 2,068.00 | -30.00 -1.54% | 1,916.00 2,095.00 |
| Rhodium 05.00 | 15,100.00 17,100.00 | 0.00 0.00% | 15,100.00 17,100.00 |