Gold closes little changed ahead of Trump's annual speech

0 Comment(s)Print E-mail Xinhua, February 6, 2019
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CHICAGO, Feb. 5 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange edged slightly lower on Tuesday, while U.S. equities and the dollar strengthened further.

The most active gold contract for April delivery was down 0.1 dollar, or 0.01 percent, to settle at 1,319.20 dollars per ounce.

Higher-than-expected new jobs in January and expanding activity in the U.S. manufacturing sector had dragged down gold futures in the last two sessions.

On Tuesday, the Dow Jones Industrial Average, S&P 500 and Nasdaq extended gains, and the U.S. dollar index, a gauge of the greenback against a basket of other major currencies, rose above 96 around noon time.

However, the factors failed to put significant pressure on the gold, as investors were awaiting U.S. President Donald Trump's State of the Union address later in the day.

Investors need more directional cues from Trump's annul speech, said analysts.

As for other precious metals, silver for March delivery went down 5 cents, or 0.31 percent, to close at 15.836 dollars per ounce. Platinum for April delivery was down 2.90 dollars, or 0.35 percent, to settle at 819.90 dollars per ounce. Enditem

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