1st LD Writethru: Gold down on stronger dollar

Gold futures on the COMEX division of the New York Mercantile Exchange fell on Thursday as the U.S. dollar strengthened.

The most active gold contract for December delivery lost 4.6 U. S. dollars, or 0.42 percent, to settle at 1,088.70 dollars per ounce.

The U.S. Dollar Index rose by 0.45 percent to 97.60 as of 18:04 GMT. The index is a measure of the dollar against a basket of major currencies. Gold and the dollar typically move in opposite directions, which means if the dollar goes up, gold futures will fall as gold, measured by the dollar, becomes more expensive for investors.

The rise in the dollar came after a press conference announcing the results of the U.S. Federal Open Market Committee after the market closed on Wednesday. The meeting described U.S. employment rates as "solid."

Analysts say that the Fed is waiting for the labor market to improve and for inflation to hit the U.S. central bank's target of 2 percent before raising rates.

Gold was given a small amount of support despite the Fed meeting announcement after a report released on Thursday by the U. S. Department of Commerce showed the U.S. GDP increasing by 2.3 percent. Analysts say this figure was slightly lower than expected.

Silver for September delivery lost 4.7 cents, or 0.32 percent, to close at 14.696 dollars per ounce. Platinum for October delivery added 5 dollars, or 0.51 percent, to close at 989.90 dollars per ounce. Endite