Gold futures rise as equities struggle to hold gains
Xinhua,April 20, 2018 Adjust font size:
CHICAGO, April 18 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Wednesday as U.S. equities struggled to hold gains.
The most active gold contract for June delivery went up 4 U.S. dollars, or 0.30 percent, to settle at 1353.50 dollars per ounce.
In the previous session, the U.S. stocks rallied on hopes that the United States may not be dragged into a deeper conflict with Syria. On Wednesday, the Dow Jones Industrial Average could hardly keep in the positive territory.
As of 1724 GMT, the Dow fell 5.87 points, or 0.02 percent. When equities decline or lose momentum, the precious metal will usually rise on safe haven demand.
With more U.S. sanctions on Russia on the way and uncertain future of the trade disputes between the United States and China, gold remains attractive for investors.
As for other precious metals, silver for May delivery went up 46.1 cents, or 2.75 percent, to settle at 17.248 dollars per ounce, the highest since the end of January. Platinum for July was up 5.8 dollars, or 0.62 percent, to close at 945.80 dollars per ounce. Enditem