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Gold rises on weaker U.S. dollar

CHICAGO
2023-11-28 04:15

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CHICAGO, Nov. 27 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Monday as the U.S. dollar, Treasury yields fell.

The most active gold contract for December delivery rose 9.40 U.S. dollars, or 0.47 percent, to close at 2,012.40 dollars per ounce.

The U.S. Commerce Department reported Monday that U.S. new home sales dropped 5.6 percent to a seasonally adjusted annual rate of 679,000 units in October, which also supported gold.

Market expectations of a pause in the Federal Reserve's monetary tightening helped gold consolidate above the key 2,000-dollar level, market analysts hold.

Investors are waiting for U.S. third-quarter gross domestic product (GDP) figures on Wednesday and the personal consumption expenditures (PCE) price index on Thursday.

Silver for December delivery rose 34 cents, or 1.40 percent, to close at 24.681 dollars per ounce. Platinum for January delivery fell 13.70 dollars, or 1.46 percent, to close at 923.20 dollars per ounce.
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