Gold futures on the COMEX division of the New York Mercantile Exchange fell for the third consecutive day to close at a more than six-month low on Wednesday, as the U.S. dollar's strength weighed on the precious metal.
The most active gold contract for August delivery dropped 3.8 U.S. dollars, or 0.3 percent, to close at 1,256.1 dollars per ounce.
The U.S. dollar index, which measures the buck against six rivals, went up 0.64 percent to 95.278 as of 2000 GMT.
Gold usually moves in opposite direction with the U.S. dollar, which means if the dollar goes up, gold futures will fall as gold, priced in U.S. dollar, becomes more expensive for investors using other currencies.
As for other precious metals, silver for July delivery fell 9.9 cents, or 0.61 percent, to settle at 16.151 dollars per ounce. Platinum for July dropped 13 dollars, or 1.49 percent, to close at 858.3 dollars per ounce.
The most active gold contract for August delivery dropped 3.8 U.S. dollars, or 0.3 percent, to close at 1,256.1 dollars per ounce.
The U.S. dollar index, which measures the buck against six rivals, went up 0.64 percent to 95.278 as of 2000 GMT.
Gold usually moves in opposite direction with the U.S. dollar, which means if the dollar goes up, gold futures will fall as gold, priced in U.S. dollar, becomes more expensive for investors using other currencies.
As for other precious metals, silver for July delivery fell 9.9 cents, or 0.61 percent, to settle at 16.151 dollars per ounce. Platinum for July dropped 13 dollars, or 1.49 percent, to close at 858.3 dollars per ounce.
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