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Gold rises on weaker U.S. dollar

CHICAGO
2024-01-31 04:06

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CHICAGO, Jan. 30 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Tuesday as the U.S. dollar weakened.

The most active gold contract for April delivery rose 6.30 U.S. dollars, or 0.31 percent, to close at 2,050.90 dollars per ounce.

Escalated geopolitical tension in the Middle East also supported gold.

The Federal Reserve on Tuesday kicked off its January monetary policy meeting, which will conclude with an announcement Wednesday.

U.S. monthly jobs report will be out on Friday.

Economic data released on Tuesday were mixed. The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 5.1-percent annual gain in November, up from a 4.7-percent rise in the previous month.

The Conference Board said that its consumer confidence index rose for the third straight month to 114.8 in January from 108 in December.

The U.S. Labor Department reported that U.S. job listings rose to 9 million in December from a revised 8.9 million in November.

Silver for March delivery fell 2.60 cents, or 0.11 percent, to close at 23.225 dollars per ounce. Platinum for April delivery fell 6.60 dollars, or 0.70 percent, to close at 931.70 dollars per ounce.
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