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1st LD Writethru: Gold futures extend gains on weak U.S. dollar, stocks

Xinhua, September 25, 2015 Adjust font size:

Gold futures on the COMEX division of the New York Mercantile Exchange closed higher sharply on Thursday as the U.S dollar and stocks went down.

The most active gold contract for December delivery advanced 22.30 U.S. dollars, or 1.97

ercent, to settle at 1,153.80 dollars per ounce. This was the highest settlement since Aug. 21.

Analysts said that dollar-dominated gold edged higher Thursday as U.S. dollar went down against other major currencies.

U.S. equities fell sharply Thursday. European and Asian stocks mostly, meanwhile, closed lower mostly. Analysts noted that the lower of global stocks boosted safe-haven trade of gold on Thursday.

About the economic datas, the U.S. Labor Department said Thursday that the advance figure for seasonally adjusted initial claims was 267,000 in the week ending Sept. 19, an increase of 3,000 from the previous week's unrevised level; the U.S. Commerce Department said that new orders for manufactured durable goods in August declined 4.8 billion dollars or 2 percent to 236.3 billion dollars.

Analysts said that traders are awaiting comments on inflation from U.S. Federal Reserve Chair Janet Yellen, who is scheduled to speak Thursday evening.

As for other metals on the COMEX, silver for December delivery added 34.10 cents, or 2.31 percent, to close at 15.13 dollars per ounce, while platinum for October delivery gained 23.40 dollars, or 2.51 percent, to close at 955.80 dollars per ounce. E ndit