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​Gold futures rise on weakened U.S. dollar

Xinhua Financein CHICAGO
2018-09-20 09:10

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Gold futures on the COMEX division of the New York Mercantile Exchange rose on Wednesday, as the U.S. dollar went weak, leaving the precious metal contract to finish above the closely watched 1,200 dollars per ounce line for a seventh straight session.

The most active gold contract for December delivery was up 5.4 U.S. dollars, or 0.45 percent, to close at 1,208.3 dollars per ounce.

The U.S. dollar index, which measures the greenback against six rivals, went down 0.11 percent to 94.53 as of 2000 GMT.

Gold usually moves in the opposite direction with the U.S. dollar, which means if the dollar goes weak, gold futures will rise as gold, priced in U.S. dollar, becomes less expensive for investors using other currencies.

As for other precious metals, silver for December delivery added 9.5 cents, or 0.67 percent, to settle at 14.28 dollars per ounce. Platinum for October went up 7 dollars, or 0.86 percent, to close at 821.9 dollars per ounce. 
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