Gold futures settle lower on stronger U.S. dollar
Xinhua,January 09, 2018 Adjust font size:
CHICAGO, Jan. 8 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange closed lower on Monday, as strength in the U.S. dollar put some pressure on dollar-denominated prices for the precious metal.
The most active gold contract for February delivery fell 1.9 U.S. dollars, or 0.14 percent, to close at 1,320.40 dollars per ounce.
The U.S. dollar index, which measures the buck against six rivals, climbed 0.4 percent to 92.363 as of 1830 GMT, trading around its highest level since Dec. 29.
Gold and the dollar often move inversely as a richer dollar dulls the appeal of investors using other currencies.
As for other precious metals, silver for March delivery dropped 14.1 cents, or 0.82 percent, to settle at 17.144 dollars per ounce. Platinum for April rose 1.2 dollars, or 0.12 percent, to close at 976.4 dollars per ounce. Enditem