国际英语新闻：Gold gains as tumbling equity markets fuel safe-haven demand

CHICAGO, Sept. 1 (Xinhua) -- Gold futures on the COMEX Division of the New York Mercantile Exchange ended higher on Tuesday as the plunging stock markets raised gold's safe-haven appeal. Silver rose, but platinum went down.

    Gold price for December delivery gained 3 U.S. dollars, or 0.3 percent, to finish at 956.50 dollars an ounce.

    Earlier in the session, a stronger dollar and weak oil put much pressure on the yellow metal, which fell below the previous closing level. Dollar index, a gauge measuring the greenback's value against six other currencies, rose 0.7, or 0.9 percent, and oil in New York slid to a new two-week low by the end of gold floor trading time.

    On the economy front, the National Association of Realtors said pending U.S. home sales rose 3.2 percent to 97.6, the highest level in more than two years as first-time buyers rushed to take advantage of a tax credit that expires this fall.

    Meanwhile, the Institute for Supply Management said its manufacturing index rose to 52.9 in August from 48.9 in July. It's the first reading above 50, which indicates expansion, since January 2008.

    However, ignoring the encouraging economic data, the U.S. stock markets plunged as investors worried that the economy's recovery is not as optimistic as expected. The Dow Jones industrials lost about 170 points when gold closed, refueling the precious metal's appeal as safe-haven to avoid economy turmoil risk.

    December silver finished at 15.06 dollars per ounce, up 13.7 cents. October platinum lost 17.20 dollars to 1,226.80 dollars an ounce.