Markets > Commodities

Gold down on stronger dollar

Xinhua News,CHICAGO
2020-06-19 03:26

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CHICAGO, Jun 18 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Thursday as the U.S. dollar strengthened.

The most active gold contract for August delivery fell 4.5 U.S. dollars, or 0.26 percent, to close at 1,731.1 dollars per ounce.

Other factors supported gold. U.S. Department of Labor put U.S. initial jobless claims during the week of June 13 at 1.51 million, worse than expected.

Most major equities market indexes were lower on Thursday, also lending support to gold.

Analysts hold that gold may see an upturn in the next week, as risk appetite of investors is likely to wane based on geopolitical strife, the resurgence of COVID-19, and worries over inflation due to stimulus measures enacted by governments across the globe.

Silver for July delivery fell 26.7 cents, or 1.5 percent, to close at 17.508 dollars per ounce. Platinum for July delivery fell 26 dollars, or 3.1 percent, to close at 812.2 dollars per ounce.
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