Markets > Commodities

Gold falls as U.S. dollar, stocks gain

2019-11-13 05:17

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CHICAGO, Nov. 12 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Tuesday for the fourth session in a row, as the U.S. dollar strengthened and stock benchmarks rose.

The most active gold contract for December delivery was down 3.40 dollars, or 0.23 percent, to close at 1,453.70 dollars per ounce.

The U.S. dollar index, a measure of the greenback against a basket of other major currencies, was up more than 0.1 percent to stay well above 98.3. When the dollar rises, it makes the dollar-priced gold more expensive for investors holding other currencies.

Meanwhile, the Dow Jones Industrial Average, S&P 500 and Nasdaq indexes all advanced before gold's settlement. When equities post gains, the precious metal usually goes down.

As safe haven sentiment among investors waned, gold futures closed at the lowest level since August.
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