CHICAGO, March 5 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange extended losses on Tuesday amid a stronger U.S. dollar. The most active gold contract for April delivery went down 2.80 U.S. dollars, or 0.22 percent, to settle at 1,284.70 dollars per ounce.
The dollar index, which measures the greenback against six major peers, increased 0.19 percent at 96.8699 in late trading.
Gold and the dollar usually move in opposite directions. When the dollar goes up, gold futures will fall as gold, priced in the dollar, becomes more expensive for investors holding other currencies.
As for other precious metals, silver for May delivery was unchanged at 15.105 dollars per ounce. Platinum for April delivery was down 0.9 dollar, or 0.11 percent, to settle at 838.00 dollars per ounce.
The dollar index, which measures the greenback against six major peers, increased 0.19 percent at 96.8699 in late trading.
Gold and the dollar usually move in opposite directions. When the dollar goes up, gold futures will fall as gold, priced in the dollar, becomes more expensive for investors holding other currencies.
As for other precious metals, silver for May delivery was unchanged at 15.105 dollars per ounce. Platinum for April delivery was down 0.9 dollar, or 0.11 percent, to settle at 838.00 dollars per ounce.
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