Gold futures fall on U.S. dollar's strength
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E-mail Xinhua, December 1, 2018
CHICAGO, Nov. 30 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange closed lower on Friday, as the U.S. dollar's strength dented the appeal of the precious metal.
The most active gold contract for February 2019 delivery went down 4.4 U.S. dollars, or 0.36 percent, to close at 1,226 dollars per ounce.
The U.S. dollar index, which measures the buck against six rivals, went up 0.48 percent to 97.24 as of 1830 GMT.
Gold usually moves in opposite directions with the U.S. dollar, which means if the dollar goes strong, gold futures will fall as gold, priced in U.S. dollar, becomes expensive for investors using other currencies.
As for other precious metals, silver for Match 2019 delivery was down 18.5 cents, or 1.28 percent, to settle at 14.217 dollars per ounce. Platinum for January 2019 dropped 21.1 dollars, or 2.57 percent, to close at 799.8 dollars per ounce. Enditem
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