Markets > Commodities

Gold futures rise for third straight session on weaker greenback

CHICAGO
2019-09-25 04:22

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CHICAGO, Sept. 24 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange closed higher for the third straight session on Tuesday, as the precious metal was boosted by a weaker greenback.

The most active gold contract for December delivery was up 8.7 U.S. dollars, or 0.57 percent, to close at 1,540.2 dollars per ounce.

The U.S. dollar index, which measures the buck against six rivals, went down 0.27 percent to 98.34 as of 1730 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 December delivery was down 8.3 cents, or 0.44 percent to close at 18.628 dollars per ounce. Platinum for October delivery was up 1.5 dollars, or 0.16 percent, to settle at 955.4 dollars per ounce.
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