Gold futures on the COMEX division of the New York Mercantile Exchange rose slightly on Wednesday as equities plunged and the U.S. dollar weakened.
The most active gold contract for December delivery inched up 70 U.S. cents, or 0.05 percent, to close at 1,279.00 dollars per ounce.
U.S. stocks fell on Wednesday, with the Dow Jones Industrial Average plunging by 128.07 points, or 0.55 percent to 23,313.69 points as of 1749 GMT.
The S&P 500 and Nasdaq followed Dow's downturn. Analysts said the retreat of stock markets was caused by the newly released third-quarter results of some companies which missed earnings expectations.
The shares of Boeing fell more than three percent after the company reported its net earnings at 1,853 million dollars in the third quarter, a decrease of about 19 percent compared with the same period of last year.
Chipotle Mexican Grill Inc. shares plunged more than 10 percent after investors saw the company's results that missed their expectations.
Meanwhile, the U.S. dollar index, a gauge of the greenback against a basket of other major currencies, fell 0.11 percent to 93.55 as of 1739 GMT.
When equities post losses and the U.S. dollar weakens, the prices of gold are usually pushed up.
As for other precious metals, silver for December delivery fell 4.1 cents, or 0.24 percent, to close at 16.925 dollars per ounce. Platinum for next January rose 1.2 dollars, or 0.13 percent, to settle at 926.70 dollars per ounce.
The most active gold contract for December delivery inched up 70 U.S. cents, or 0.05 percent, to close at 1,279.00 dollars per ounce.
U.S. stocks fell on Wednesday, with the Dow Jones Industrial Average plunging by 128.07 points, or 0.55 percent to 23,313.69 points as of 1749 GMT.
The S&P 500 and Nasdaq followed Dow's downturn. Analysts said the retreat of stock markets was caused by the newly released third-quarter results of some companies which missed earnings expectations.
The shares of Boeing fell more than three percent after the company reported its net earnings at 1,853 million dollars in the third quarter, a decrease of about 19 percent compared with the same period of last year.
Chipotle Mexican Grill Inc. shares plunged more than 10 percent after investors saw the company's results that missed their expectations.
Meanwhile, the U.S. dollar index, a gauge of the greenback against a basket of other major currencies, fell 0.11 percent to 93.55 as of 1739 GMT.
When equities post losses and the U.S. dollar weakens, the prices of gold are usually pushed up.
As for other precious metals, silver for December delivery fell 4.1 cents, or 0.24 percent, to close at 16.925 dollars per ounce. Platinum for next January rose 1.2 dollars, or 0.13 percent, to settle at 926.70 dollars per ounce.
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