Markets > Commodities

Gold futures edge higher on weaker greenback

CHICAGO
2019-12-12 05:05

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CHICAGO, Dec. 11 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange edged higher on Wednesday, as the precious metal was boosted by weaker greenback.

The most active gold contract for February delivery added 6.9 U.S. dollars, or 0.47 percent, to close at 1,475 dollars per ounce.

The U.S. dollar index, which measures the buck against six rivals, went down 0.03 percent to 97.38 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 added 14.7 cents, or 0.88 percent, to close at 16.849 dollars per ounce. The January platinum jumped 16.9 dollars, or 1.83 percent, to settle at 939.5 dollars per ounce.
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