Gold futures on the COMEX division of the New York Mercantile Exchange settled higher for third day in a row on Friday, finding support as the U.S. dollar extended its earlier decline.
The most active gold contract for February delivery rose 12.4 U.S. dollars, or 0.94 percent, to close at 1,334.90 dollars per ounce.
The U.S. dollar index, which measures the buck against six rivals, fell by 0.9 percent to 90.98 as of 1930 GMT. Because most commodities are priced in dollars, weakness in the currency can provide support for assets like gold, boosting their appeal among buyers using stronger currencies.
As for other precious metals, silver for March delivery added 17.5 cents, or 1.03 percent, to settle at 17.141 dollars per ounce. Platinum for April delivery went up 5.4 dollars, or 0.55 percent, to close at 996.2 dollars per ounce.
The most active gold contract for February delivery rose 12.4 U.S. dollars, or 0.94 percent, to close at 1,334.90 dollars per ounce.
The U.S. dollar index, which measures the buck against six rivals, fell by 0.9 percent to 90.98 as of 1930 GMT. Because most commodities are priced in dollars, weakness in the currency can provide support for assets like gold, boosting their appeal among buyers using stronger currencies.
As for other precious metals, silver for March delivery added 17.5 cents, or 1.03 percent, to settle at 17.141 dollars per ounce. Platinum for April delivery went up 5.4 dollars, or 0.55 percent, to close at 996.2 dollars per ounce.
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