Markets > Commodities

Gold futures rise as U.S. dollar weakens

Xinhua Financein CHICAGO
2018-09-21 08:57

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Gold futures on the COMEX division of the New York Mercantile Exchange rose on Thursday as the U.S. dollar weakened, leaving the precious metal contracts to finish above the closely watched 1,200 dollars per ounce line for a eighth straight session.

The most active gold contract for December delivery was up 3 U.S. dollars, or 0.25 percent, to close at 1,211.3 dollars per ounce.

The U.S. dollar index, which measures the greenback against six rivals, went down 0.66 percent to 93.9145 as of 2000 GMT.

Gold usually moves in the opposite direction with the U.S. dollar, which means if the dollar goes weak, gold futures will rise as gold, priced in U.S. dollar, becomes less expensive for investors using other currencies.

As for other precious metals, silver for December delivery added 2.5 cents, or 0.18 percent, to settle at 14.305 dollars per ounce. Platinum for October went up 12.3 dollars, or 1.5 percent, to close at 834.2 dollars per ounce. Enditem
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