Gold futures on the COMEX division of the New York Mercantile Exchange posted a tiny increase of 10 cents on Wednesday as the U.S. dollar index recovered.
The most active gold contract for August delivery rose 0.10 U.S. dollars, or 0.01 percent, to settle at 1,242.00 dollars per ounce.
The U.S. dollar Index went up 0.1 percent to reach 94.77 as of 1726 GMT, after sinking to a 10-month low against a basket of other major currencies the previous day.
Gold and the U.S. dollar typically move in opposite directions. If the dollar goes up, it will put pressure on gold, making it less attractive for investors.
The Dow Jones Industrial Average rose 30.58 points, or 0.14 percent, to 21,605.31 as of 1736 GMT.
When equities post gains, the gold futures usually go down, as investors are not necessarily looking for a safe haven. Thus, the upward trends of both the U.S. dollar index and the Dow Jones Industrial Average have limited the increase of gold futures to a dime on Wednesday.
As for other precious metals, silver for September delivery rose 2.9 cents, or 0.18 percent, to close at 16.297 dollars per ounce. Platinum for October declined by 6.1 dollars, or 0.66 percent, to settle at 924.20 dollars per ounce.
Latest comments