Gold futures jump on weakened greenback
Xinhua,December 30, 2017 Adjust font size:
CHICAGO, Dec. 29 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange jumped on Friday, booking their seventh straight positive session, and retaking a level above 1,300 U.S. dollars per ounce for the first time in about three months.
The most active gold contract for February delivery added 12.1 dollars, or 0.93 percent, to close at 1309.3 dollars per ounce.
On Friday, the U.S. dollar index, which measures the buck against six rival currencies, was down 0.5 percent at 92.17, after sinking 1.3 percent in 2017. A weaker dollar tends to provide a boost to dollar-pegged commodities, making them more attractive to users of weaker monetary units.
As for other precious metals, silver for March delivery went up 22.2 cents, or 1.31 percent, to settle at 17.145 dollars per ounce. Platinum for January rose 7.3 dollars, or 0.79 percent, to close at 934.2 dollars per ounce.
The yellow metal enjoyed a nearly 14 percent gain in 2017, with a nearly 2 percent gain for the quarter and a 2.5 percent rise in December. The gains come as the broader metals complex rises amid weakness in the U.S. dollar. Enditem