MW:Gold, silver futures slip in electronic trading
By Virginia Harrison, MarketWatch
SYDNEY (MarketWatch) — Gold futures slipped in electronic trading Thursday as the dollar strengthened slightly and investors awaited a resolution of the U.S. debt-ceiling debate.
Gold for August delivery GC1Q -0.04% lost 10 cents to $1,615.00 an ounce on the Comex division of the New York Mercantile Exchange during Asian trading hours
Gold for December delivery GC1Z -0.06% , the most actively traded contract, lost 30 cents, to $1,617.20 an ounce.
The metal seesawed between mild gains and losses throughout the session.
U.S. lawmakers’ remained unable to agree on measures needed to increase the debt-ceiling as the Aug. 2. deadline required for action to avoid triggering a default loomed. Read more on the U.S. debt-ceiling negotiations.
The broader metals complex traded weaker on Thursday.
Silver for September delivery SI1U -0.69% fell 19 cents, or 0.5%, to $40.38 an ounce.
Copper for September contract HG1U +0.27% lost 0.1%, to $4.44 a pound.
October platinum PL1V -1.07% gave up $23.90, or 1.3%, to $1,784.10 an ounce, and palladium for September delivery PA1U -0.40% declined $7.15, or 0.9%, to $826.05 an ounce.
The dollar index DXY -0.01% , which compares the U.S. unit to a basket of six other currencies, traded at 74.102, from 74.008 late Thursday.
Virginia Harrison is a MarketWatch reporter based in Sydney.
