COMMODITIES: Gold Swings Back to $1,400 Following ISM Data


Gold for August delivery was up 1.4% at last check, regaining the ground it lost last Friday, and settled a little above $1,400.

Gold funds, SPDR Gold Trust (GKD) and Market Vectors Gold Miners ( GDX ) were up 1.93% and 2.27%, respectively.

Gold firmed up following the U.S. ISM manufacturing report for May of 50.7%, which missed analyst expectations of 51%, but matched the April figures. The precious metal is also getting some lift as no confirmation or news has come from the Federal Reserve on a major revamp of its qualitative easing program.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: GDX

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