Gold futures settle at four-month high as greenback weakens
Xinhua,January 12, 2018 Adjust font size:
CHICAGO, Jan. 11 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose to a four-month high as the U.S. dollar turned lower for the week.
The most active gold contract for February delivery rose 3.2 U.S. dollars, or 0.17 percent, to close at 1,322.50 dollars per ounce.
The U.S. dollar index, which measures the buck against six rivals, fell by 0.5 percent to 91.86 as of 1930 GMT. Because most commodities are priced in dollars, weakness in the currency can provide support for assets like gold, boosting their appeal among buyers using stronger currencies.
Several factors were also supporting gold prices, including a dip in global stock markets this week following a spectacular rally.
As for other precious metals, silver for March delivery went down 6.9 cents, or 0.41 percent, to settle at 16.966 dollars per ounce. Platinum for April added 12 dollars, or 1.23 percent, to close at 990.8 dollars per ounce. Enditem