Had Been Down For A Few Days, Gold Prices Back Up

JAKARTA - Gold futures prices on the COMEX Division of the New York Mercantile Exchange rose on Tuesday, August 10 as they rebounded after several days of declines.

The most-active gold contract for December delivery rose 5.2 dollars, or 0.3 percent, to close at 1,731.7 dollars per ounce.

Gold found additional support beyond the technical bounce as the National Federation of Independent Business Small Business Optimism Index released Tuesday stood at 99.7 in July, down 2.8 points from the previous month. Preliminary data released by the US Department of Labor on Tuesday showed Labor productivity in the United States jumped just 2.3 percent in the second quarter after jumping 4.3 percent in the first, supporting gold.

Silver for September delivery rose 12.3 cents, or 0.53 percent, to close at 23,392 dollars an ounce. Platinum for October delivery rose 16.1 dollars, or 1.66 percent, to close at 987 dollars an ounce. This was reported by Antara, Wednesday, August 11.