Gold futures on the COMEX division of the New York Mercantile Exchange rose Thursday to one-year high on weakened U.S. dollar, boosting investment demand for the precious metal.
The most active gold contract for December delivery went up 11.3 dollars, or 0.84 percent, to settle at 1,350.3 dollars per ounce.
The euro rose firmly against the U.S. dollar following European Central Bank (ECB)'s decision to leave interest rates unchanged. In a news conference, the central bank's President Mario Draghi indicated that the long-awaited decision on how and when to taper the ECB's asset purchases would likely come in October.
Against this backdrop, a key measure of the greenback, the U.S. Dollar Index was off 0.7 percent at 91.673 as of 1930 GMT. Gold and the dollar typically move in opposite directions, as gold priced in greenbacks is more attractive to investors using another currency.
As for other precious metals, silver for December delivery added 20.6 cents, or 1.15 percent, to close at 18.116 dollars per ounce. Platinum for October delivery rose 9.7 dollars, or 0.96 percent, to close at 1016.8 dollars per ounce.
The most active gold contract for December delivery went up 11.3 dollars, or 0.84 percent, to settle at 1,350.3 dollars per ounce.
The euro rose firmly against the U.S. dollar following European Central Bank (ECB)'s decision to leave interest rates unchanged. In a news conference, the central bank's President Mario Draghi indicated that the long-awaited decision on how and when to taper the ECB's asset purchases would likely come in October.
Against this backdrop, a key measure of the greenback, the U.S. Dollar Index was off 0.7 percent at 91.673 as of 1930 GMT. Gold and the dollar typically move in opposite directions, as gold priced in greenbacks is more attractive to investors using another currency.
As for other precious metals, silver for December delivery added 20.6 cents, or 1.15 percent, to close at 18.116 dollars per ounce. Platinum for October delivery rose 9.7 dollars, or 0.96 percent, to close at 1016.8 dollars per ounce.
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