Gold futures fall on stronger greenback
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E-mail Xinhua, February 7, 2019
CHICAGO, Feb. 6 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange closed lower Wednesday for a fourth straight session, as strength in the U.S. dollar dulled demand for the precious metal.
The most active gold contract for April delivery went down 4.80 U.S. dollars, or 0.36 percent, to settle at 1,314.40 dollars per ounce.
The U.S. dollar index, which measures the buck against six rivals, went up 0.29 percent to 96.35 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 March delivery was down 13.50 cents, or 0.85 percent, to settle at 15.701 dollars per ounce. Platinum for April delivery fell 6.10 dollars, or 0.74 percent, to close at 813.80 dollars per ounce. Enditem
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