Bullion prices ended substantially higher at Comex on Monday, 16 September 2019. Gold futures finished solidly higher at their highest price in just over a week, after an attack on Saudi Arabian oil production sent oil values skyrocketing and investors turning to haven assets, including bonds and precious metals.However, attention will divert to the Federal Open Market Committee's two-day policy meeting which begins on Tuesday. Market expects to see a 25 basis point interest-rate cut, with the market's focus on the Fed statement following the decision.
December gold on Comex gained $12, or 0.8%, to settle at $1,511.50 an ounce, after registering on Friday a weekly decline of 1.1%.
Silver for December delivery added 45.7 cents, or 2.6%, to settle at $18.026 an ounce, following a weekly loss of 3%.
Economic data was sparse on Monday. The Empire State Manufacturing Survey for September declined to 2.0 (consensus 5.5) from the prior month's reading of 4.8.
The U.S. Dollar Index advanced 0.4% to 98.61 on Monday.
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