Gold futures on the COMEX division of the New York Mercantile Exchange continued its downturn on Wednesday as the U.S. dollar rallied.
The most active gold contract for December delivery fell 4.7 dollars, or 0.35 percent, to settle at 1,328 dollars per ounce.
The U.S. dollar index, a measure of the dollar against a basket of other major currencies, rose 0.57 percent to reach 92.42 as of 1833 GMT.
Geopolitical concerns surrounding the Korean Peninsula had weakened the U.S. dollar last week, making the index plunge to the level of 91 on Friday. It led to the sharp rise of gold futures as investors rushed to safe heaven assets.
When the tensions seem to be easing, the U.S. dollar index rebounded significantly.
However, the fall of gold on Wednesday was curbed by the stock market, which saw only moderate rise. The Dow Jones Industrial Average went up 18.29 points, or 0.08 percent, to 22,137.15 as of 1843 GMT.
As for other precious metals, silver for December delivery went down 2.3 cents, or 0.13 percent, to close at 17.867 dollars per ounce. Platinum for October fell 3.3 dollars, or 0.33 percent, to settle at 983.2 dollars per ounce.
The most active gold contract for December delivery fell 4.7 dollars, or 0.35 percent, to settle at 1,328 dollars per ounce.
The U.S. dollar index, a measure of the dollar against a basket of other major currencies, rose 0.57 percent to reach 92.42 as of 1833 GMT.
Geopolitical concerns surrounding the Korean Peninsula had weakened the U.S. dollar last week, making the index plunge to the level of 91 on Friday. It led to the sharp rise of gold futures as investors rushed to safe heaven assets.
When the tensions seem to be easing, the U.S. dollar index rebounded significantly.
However, the fall of gold on Wednesday was curbed by the stock market, which saw only moderate rise. The Dow Jones Industrial Average went up 18.29 points, or 0.08 percent, to 22,137.15 as of 1843 GMT.
As for other precious metals, silver for December delivery went down 2.3 cents, or 0.13 percent, to close at 17.867 dollars per ounce. Platinum for October fell 3.3 dollars, or 0.33 percent, to settle at 983.2 dollars per ounce.
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