Gold futures rise on weakened greenback

CHICAGO, Dec. 27 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange closed higher on Wednesday as a weaker U.S. dollar encouraged investors to buy the precious metal.

The most active gold contract for February delivery went up 3.9 dollars, or 0.3 percent, to close at 1291.4 dollars per ounce

Gold gained as the U.S. dollar retreated 0.3 percent at 92.99, while stocks showed modest gains, struggling to avoid the longest skid in about three months. A weaker dollar boosts gold as the falling currency makes the dollar-priced bullion more attractive to investors using another currency.

As for other precious metals, silver for March delivery added 15.2 cents, or 0.92 percent, to settle at 16.756 dollars per ounce. Platinum for January rose 0.2 dollars, or 0.02 percent, to close at 923.7 dollars per ounce. Enditem