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Gold futures fell on technical selling, conflicting official comments on greenback

Xinhua,January 27, 2018 Adjust font size:

CHICAGO, Jan. 26 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange settled lower Friday on the heels of conflicting comments from the Trump administration on U.S. dollar policy and technical selling.

The most active gold contract for February delivery dropped 10.8 U.S. dollars, or 0.79 percent, to close at 1,352.1 dollars per ounce.

Gold prices began to fall after U.S. President Donald Trump said he wanted to see a stronger dollar and expressed optimism that the battered U.S. currency would strengthen.

As for other precious metals, silver for March delivery went down 17.4 cents, or 0.99 percent, to settle at 17.441 dollars per ounce. Platinum for April fell 13.7 dollars, or 1.33 percent, to close at 1018.4 dollars per ounce. Enditem

 

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