A down-turn in Chicago manufacturing activity made the expectations higher that the U.S. Federal Reserve will keep easy monetary policy. On Tuesday gold futures a slight improvement, as quoted by MarketWatch San Francisco.
The New York Mercantile Exchange (NYME) shows for June gold delivery was 0.2% at $1,470.40. For this month gold prices show a drop by 8%, the biggest drop since December 2011. The last trade on March closed at $1,595.70.
Silver prices in April dropped 14% on its best rates.
The decision about monetary policy will come out on Thursday by the European Central Bank (ECB). Also the Fed will meet this week.
The “easing program” of the Central Bank is helping gold to progress, while bond buying is leading to inflation. On Tuesday consumer confidence index increased to 68.1 from 61.9 in March.