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Gold futures fall on firmed U.S. dollar

Xinhua,February 24, 2018 Adjust font size:

CHICAGO, Feb. 23 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Friday, as the U.S. dollar climbed from last week's three-year low on the back of higher U.S. Treasury yields.

The most active gold contract for April delivery went down 2.4 dollars, or 0.18 percent, to close at 1,330.3 dollars per ounce.

The U.S. dollar index, which measures the buck against six rivals, went up 0.16 percent to 89.874 as of 1930 GMT .

Gold and the dollar typically move in opposite directions, which means if the dollar goes up, gold futures will fall.

As for other precious metals, silver for March delivery dropped 10.3 cents, or 0.62 percent, to settle at 16.484 dollars per ounce. Platinum for April went down 0.6 dollar, or 0.06 percent, to close at 998.8 dollars per ounce. Enditem

 

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