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Gold prices rose before the release of data on business activity in the U.S. from the Institute for Supply Management (ISM). Published data were better than analysts' forecasts, which caused a sharp strengthening of the dollar,and as a consequence, the fall in gold prices. Thus, the index of economic conditions in the ISM manufacturing sector in April was 54.8, 53.0 expected. Earlier today, published data on the index of manufacturing activity in China. In April, the value of the indicator rose to the level of 53.3 points vs. 53.6 in March and the value of 53.1.
The cost of the June gold futures on COMEX has risen now to $ 1672.30 per ounce and then dropped to $ 1657.50 an ounce.
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