Gold futures drift lower for second session
Xinhua,January 10, 2018 Adjust font size:
CHICAGO, Jan. 9 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange headed lower for second day on Tuesday, as the U.S. dollar remained buoyant along with global equities, undercutting the appeal of the haven asset.
The most active gold contract for February delivery fell 6.7 U.S. dollars, or 0.51 percent, to close at 1,313.70 dollars per ounce.
The U.S. dollar index, which measures the buck against six rivals, climbed 0.2 percent to 92.54 as of 1830 GMT.
Because most commodities are priced in dollars, strength in the currency can create a headwind for assets like gold, detracting from its appeal among buyers using weaker currencies.
Gold is also seeing profit-taking from its recent rally, traders said.
As for other precious metals, silver for March delivery dropped 13.4 cents, or 0.78 percent, to settle at 17.01 dollars per ounce. Platinum for April fell 4.1 dollars, or 0.42 percent, to close at 972.3 dollars per ounce. Enditem