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1st LD Writethru: Gold extends losses on firmer dollar, rising U.S. stocks

Xinhua, September 4, 2015 Adjust font size:

Gold futures on the COMEX division of the New York Mercantile Exchange extended losses on Thursday as U.S. dollar continued to strengthen while U.S stocks went up.

The most active gold contract for December delivery lost 9.10 U.S. dollars, or 0.80 percent, to settle at 1,124.50 dollars per ounce.

The European Central Bank (ECB) on Thursday decided to leave key interest rates unchanged and increase the issue share limit. ECB President Mario Draghi announced that the issue share limit would be raised from the initial limit of 25 percent to 33 percent. Analysts noted that the ECB's decision helped the U.S. dollar continue to move higher against euro and other major currencies on Thursday, pressing gold futures to settle lower.

The U.S. stocks traded higher as investors tried to digest a batch of mixed economic reports. FTSE 100 Index, the British benchmark stock market also closed higher on Thursday, which also weighed on gold futures.

Analysts also said that gold settled lower amid thin trade as investors wait for a key U.S. jobs report to gauge the timing of a Federal Reserve rate hike.

As for the other metals on the Comex, silver for December delivery rose 4 cents, or 0.27 percent, to close at 14.707 dollars per ounce. Platinum for October delivery lost 3.50 dollars, or 0.35 percent, to close at 1,010.10 dollars per ounce. Endit