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Gold rises on U.S. dollar weakness

CHICAGO
2022-09-13 02:36

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CHICAGO, Sept. 12 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Monday as the U.S. dollar weakened.

The most active gold contract for December delivery rose 12 U.S. dollars, or 0.69 percent, to close at 1,740.6 dollars per ounce.

Market analysts note that gold likely has found support due to inflation-driven safe-haven demand and the geopolitical fallout from the Russia-Ukraine conflict.

Investors are also waiting for U.S. inflation data for August due out Tuesday.

Silver for December delivery rose 1.093 dollars, or 5.82 percent, to close at 19.86 dollars per ounce. Platinum for October delivery rose 27.3 dollars, or 3.11 percent, to close at 904.2 dollars per ounce.
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