1st LD Writethru: Gold up on weaker U.S. dollar
Xinhua, May 13, 2015 Adjust font size:
Gold futures on the COMEX division of the New York Mercantile Exchange rose on Tuesday as the U.S. dollar fell.
The most active gold contract for June delivery rose 9.4 U.S. dollars, or 0.79 percent, to settle at 1,192.40 dollars per ounce.
The U.S. dollar index fell by 0.63 percent to 94.42 in midday session on Tuesday, giving the precious metal a boost.
On top of that, gold was also given a lift by weak European equities, triggered by the Greek debt crisis. Analysts said that Greece had to tap one of its IMF holding accounts to meet the debt interest payment of 750 million euro (841.28 million U.S. dollars).
Member countries have two accounts with the IMF -- one where they deposit their annual quota, which in effect is their member fee, and another where they store reserve for emergencies.
Silver for July delivery rose 21.2 cents, or 1.30 percent, to close at 16.526 dollars per ounce. Platinum for July delivery added 5.7 dollars, or 0.51 percent, to close at 1,133.00 dollars per ounce. Endite