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1st LD Writethru: Gold futures extend losses on firmer U.S. dollar

Xinhua, September 23, 2015 Adjust font size:

Gold futures on the COMEX division of the New York Mercantile Exchange extended losses on Tuesday as a new round of expectations that Fed will raise interest rates lifted the U.S. dollar.

The most active gold contract for December delivery fell 8.00 U.S. dollars, or 0.71 percent, to settle at 1,124.80 dollars per ounce.

Analysts said that some Fed officials' comments arose a new round of expectations that Fed will raise interest rates this year, making U.S. dollar firmer on Tuesday, pressed Gold futures to dip more.

Fed Bank of Atlanta President Dennis Lockhart said on Monday that he remains confident the central bank will lift interest rates this year, even as recent market turbulence raised risks to the economic and inflation outlook.

While James Bullard, president of the St. Louis Federal Reserve, said Monday that there is still a chance the Fed could life interest rates at an October meeting.

As for the other metals, silver for December delivery lost 46.50 cents, or 3.05 percent, to close at 14.756 dollars per ounce. Platinum for October delivery was lower 36.20 dollars, or 3.72 percent, to close at 937.50 dollars per ounce. Endit