Markets > Commodities

Gold futures retreat amid U.S.-China trade talks

2019-10-11 04:15

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CHICAGO, Oct. 10 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange on Thursday ended at the lowest level in more than a week, as investors' risk appetite rose amid a fresh round of U.S.-China trade talks.

The most active gold contract for December delivery was down 11.9 U.S. dollars, or 0.79 percent, to close at 1,500.9 dollars per ounce.

The rising of U.S. equities also dented the appeal of the precious metal.

As of 1730 GMT, the Dow Jones Industrial Average added 137.88 points, or 0.52 percent. The S&P 500 Index went up 17.99 points, or 0.62 percent, and the Nasdaq Composite Index was up 44.86 points, or 0.57 percent.

Gold usually moves in opposite directions with the U.S. equities. When the stock markets are on the rise, investors may stop buying safe-haven assets.

As for other precious metals, silver for December delivery was down 20.8 cents, or 1.17 percent to close at 17.602 dollars per ounce. Platinum for January delivery was up 11.2 dollars, or 1.25 percent, to settle at 907.9 dollars per ounce.
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