Gold futures on the COMEX division of the New York Mercantile Exchange closed lower on Wednesday, as a stronger U.S. dollar exerted pressure on the precious metal.
The most active gold contract for August delivery went down 11 dollars, or 0.88 percent, to close at 1,244.4 dollars per ounce.
The U.S. dollar index, which measures the buck against six rivals, rose 0.58 percent to 94.701 as of 2000 GMT.
Gold usually moves in the 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 September delivery dropped 27 cents, or 1.68 percent, to settle at 15.817 dollars per ounce. Platinum for October fell 11.2 dollars, or 1.32 percent, to close at 835 dollars per ounce.
The most active gold contract for August delivery went down 11 dollars, or 0.88 percent, to close at 1,244.4 dollars per ounce.
The U.S. dollar index, which measures the buck against six rivals, rose 0.58 percent to 94.701 as of 2000 GMT.
Gold usually moves in the 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 September delivery dropped 27 cents, or 1.68 percent, to settle at 15.817 dollars per ounce. Platinum for October fell 11.2 dollars, or 1.32 percent, to close at 835 dollars per ounce.
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