Markets > Commodities

Gold futures close at 6-month high on weakened U.S. dollar

​CHICAGO
2018-12-29 08:43

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Gold futures on the COMEX division of the New York Mercantile Exchange ended at a six-month high on Friday, as the precious metal was boosted by a weaker U.S. dollar.

The most active gold contract for February delivery rose 1.90 dollars, or 0.15 percent, to settle at 1,283 dollars per ounce.

The U.S. dollar index, which measures the buck against six rivals, went down 0.12 percent to 96.35 as of 1825 GMT.

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

As for other precious metals, silver for March delivery added 12.60 cents, or 0.82 percent, to settle at 15.436 dollars per ounce. Platinum for April delivery went down 5 dollars, or 0.62 percent, to close at 796.40 dollars per ounce.
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