CHICAGO, June 14 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange settled slightly higher on Friday, after giving up most earlier gains over tensions in the Middle East.
The most active gold contract for August delivery went up 0.80 dollars, or 0.06 percent, to close at 1,344.50 dollars per ounce.
Two oil tankers were reportedly hit on Thursday in the Gulf of Oman off the coast of Iran. Tehran has denied any role in the alleged attacks but Washington blamed Iran, while Moscow called for refraining from making hasty accusations.
The tensions have in the past two sessions pushed up gold, a safe-haven asset. However, gold futures gave up much of the earlier gains on Friday as the U.S. dollar strengthened notably.
The U.S. dollar index, a measure of the greenback against a basket of other major currencies, rose 0.54 percent to 97.54 shortly before the gold's settlement.
Gold and the dollar typically move in opposite directions. When the dollar rises, it will pressure gold, priced in the dollar, making the bullion more expensive for investors holding other currencies.
As for other precious metals, silver for July delivery was down 8.9 cents, or 0.6 percent to close at 14.803 dollars per ounce. Platinum for July delivery was down 4.70 dollars, or 0.58 percent, to settle at 804.70 dollars per ounce. Enditem
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