SINGAPORE (Commodity Online) : Gold prices mixed along with dollar in Asian trade Tuesday ahead of couple of key US reports while global stock markets declined.
Gold for immediate delivery was seen trading at $ 1236.75 an ounce at 12.00 noon Singapore time while U.S. gold futures for December delivery was at $1,238.60 an ounce on the comex division of Nymex.
Silver for immediate delivery was little changed at $19.0213 an ounce, platinum fell 0.2 percent to $1,525 an ounce and palladium dropped 1 percent to $492 an ounce.
The US dollar showed mixed trading against its major opponents ahead of the data. The greenback edged higher against the euro and pound while it weakened against the yen and the Swiss franc.
On Monday, gold rose in a tight range, starting its fifth straight week in positive territory. Spot gold closed at $1236.66 per ounce while .S. gold futures for December delivery ended at $1239.20 an ounce.
Silver was at $19.02 an ounce, against Friday's late price at $19.03. The metal hit a two-month high of $19.32 last week.
Platinum stood at $1,524 an ounce compared with $1,530.50 previously. Palladium was at $495 against $501 quoted late on Friday in New York.
Analysts said the precious yellow metal took advantage of US economic worries weakness in other markets that highlight it’s appeal as a safe haven or alternative investment.
They said the bullion however ignored a US personal income report, which showed consumer spending rose at the strongest pace in four months in July.
U.S. data showed that personal incomes climbed 0.2 percent in July, less than projected, reinforcing concern that the world’s largest economy may be slowing.
