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Gold futures rise as U.S. dollar falls

2019-04-27 04:24

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CHICAGO, April 26 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange climbed on Friday as the U.S. dollar softened.

The most active June gold was up 9.10 U.S. dollars, or 0.71 percent, to close at 1,288.80 dollars per ounce.

The U.S. dollar, which had strengthened significantly early this week, retreated on Friday.

The U.S. dollar index, a gauge measuring the greenback against six major peers, fell 0.19 percent to 97.95 as of 1720 GMT, shortly before gold's settlement.

Gold and the dollar typically move in opposite directions. If the dollar goes down, gold futures will rise as gold, priced in the dollar, becomes less expensive for investors holding other currencies.

Gold got additional support from the fall of U.S. Treasury yields.

As for other previous metals, silver for May delivery was up 12.6 cents, or 0.85 percent to settle at 15.005 dollars per ounce. Platinum for July delivery was up 13.90 dollars, or 1.56 percent, to close at 903.60 dollars per ounce. Enditem

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