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Gold rises on inflation concerns

CHICAGO
2021-11-18 03:48

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CHICAGO, Nov. 17 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Wednesday as investors acted on inflationary concerns.

The most active gold contract for December delivery rose 16.1 U.S. dollars, or 0.87 percent, to close at 1,870.2 dollars per ounce.

A weak dollar also supported gold.

U.S. Department of Commerce on Wednesday put U.S. home construction at a seasonally adjusted annual rate of 1.52 million units in October, down 0.7 percent from September, as builders were facing difficulties keeping up with demand while supply chain problems persisted.

Silver for December delivery rose 22.3 cents, or 0.89 percent, to close at 25.167 dollars per ounce. Platinum for January delivery fell 5.4 dollars, or 0.5 percent, to close at 1,069.1 dollars per ounce.
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