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Gold rises as U.S. dollar weakens

CHICAGO
2022-10-27 02:36

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CHICAGO, Oct. 26 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Wednesday as the U.S. dollar weakened.

The most active gold contract for December delivery rose 11.2 U.S. dollars, or 0.68 percent, to close at 1,669.2 dollars per ounce.

Declining U.S. Treasury yields also supported gold.

U.S. Commerce Department reported Wednesday that U.S. new home sales fell 10.9 percent to a seasonally-adjusted annual rate of 603,000 in September, from a revised 677,000 in the prior month. This capped gold's growth somewhat.

Silver for December delivery rose 13.7 cents, or 0.71 percent, to close at 19.486 dollars per ounce. Platinum for January delivery rose 42.8 dollars, or 4.65 percent, to close at 962.5 dollars per ounce.
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