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Gold futures edge lower as safe haven demand weakens

2019-04-16 04:47

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CHICAGO, April 15 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange edged lower on Monday, as comparatively better prospect of world economy dulled haven-related demand for the precious metal.

The most active gold contract for June delivery went down 3.90 dollars, or 0.3 percent, to settle at 1,291.30 U.S. dollars per ounce. However, gold's decline was limited by the weakness of greenback.

The U.S. dollar index, which measures the buck against six rivals, went down 0.01 percent to 96.93 as of 1830 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 May delivery was up 0.12 cent, or 0.08 percent, to settle at 14.975 dollars per ounce. Platinum for July delivery was down 4 dollars, or 0.45 percent, to close at 894.50 dollars per ounce.
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