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Gold futures fall for third straight session on stronger U.S. dollar

2019-10-09 04:49

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CHICAGO, Oct. 8 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange ended lower Tuesday for the third straight session, as the precious metal was pressured by the stronger greenback.

The most active gold contract for December delivery was down 0.5 U.S. dollar, or 0.03 percent, to close at 1,503.9 dollars per ounce.

The U.S. dollar index, which measures the buck against six rivals, went up 0.21 percent to 99.18 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 up 16 cents, or 0.91 percent to close at 17.7 dollars per ounce. Platinum for January delivery was up 1.8 dollars, or 0.2 percent, to settle at 890.1 dollars per ounce.
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