Markets > Commodities

Gold futures close higher as traders eye trade talks

CHICAGO
2019-12-11 05:06

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CHICAGO, Dec. 10 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange closed higher on Tuesday, as traders eyed potential progress toward a U.S.-China trade deal and awaited the outcome of the two-day Federal Reserve monetary policy meeting which concludes Wednesday.

The most active gold contract for February delivery added 3.2 U.S. dollars, or 0.22 percent, to close at 1,464.9 dollars per ounce.

The precious metal was also boosted by weaker greenback. The U.S. dollar index, which measures the buck against six rivals, went down 0.18 percent to 97.47 as of 1830 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, March silver went up 0.6 cent, or 0.36 percent, to close at 16.702 dollars per ounce. The January platinum jumped 24.1 dollars, or 2.68 percent, to settle at 922.6 dollars per ounce.
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