Markets > Futures

Gold futures settle higher on weaker U.S. dollar

CHICAGO
2019-12-24 05:20

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CHICAGO, Dec. 23 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange settled higher on Monday as the precious metal was buoyed by weakness in the U.S. dollar.

The most active gold contract for February delivery added 7.8 U.S. dollars, or 0.53 percent, to close at 1,488.7 dollars per ounce.

The U.S. dollar index, which measures the buck against six rivals, decreased 0.02 percent to 97.67 as of 1830 GMT.

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

As for other precious metals, silver for March delivery went up 27.5 cents, or 1.6 percent, to close at 17.499 dollars per ounce. Platinum for January delivery rose 24.6 dollars, or 2.69 percent, to settle at 938.4 dollars per ounce.
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