Bullion prices finished lower at Comex on Monday, 17 June 2019. Gold futures finished lower on Monday, following a four-session streak of gains, pressured by uncertainty ahead of a meeting of the U.S. Federal Reserve that's expected to offer hints on the central bank's plan on interest rates. International trade clashes and a concern over a weakening global economy, however, limited losses for the haven metal.
The yellow metal for August delivery fell $1.60, or 0.1%, to settle at $1,342.90, after closing on Friday action with a weekly loss of 0.1% based on the most-active contract prices. Prices on Friday had climbed to as high as $1,362.20, the highest since April 2018. July silver added 2.6 cents, or 0.2%, at $14.829 an ounce, after ending Friday's trade with a 1.5% weekly loss.
The Federal Open Market Committee will conclude a two-day policy meeting on Wednesday.
In economic data on Monday, the New York Fed's Empire State business conditions index took a sharp turn for the worse in June, falling into negative territory for the first time in more than two years. The Empire State Manufacturing Survey for June fell to -8.6 from the prior month's reading of 17.8. The 26 point drop was the largest monthly decline on record, sending it comfortably below 0.0, which is the dividing line between expansion and contraction for this report.
Separately, the NAHB Housing Market Index for June came in at 64 (consensus 66), down from 66 from May.