Gold futures jump to 10-month high ahead of U.S.-China trade talks
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E-mail Xinhua, February 20, 2019
CHICAGO, Feb. 19 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange closed at 10-month high on Tuesday, as traders awaited a fresh round of talks between the United States and China.
The most active gold contract for April delivery added 22.70 U.S. dollars, or 1.72 percent, to settle at 1,344.80 dollars per ounce.
Financial markets await the latest trade developments, as China and the United States will have a new round of economic and trade consultations in Washington this week.
The precious metal was also boosted by weakened greenback. The U.S. dollar index, which measures the buck against six rivals, went down 0.33 percent to 96.46 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 up 22.40 cents, or 1.42 percent, to settle at 15.967 dollars per ounce. Platinum for April delivery rose 14.10 dollars, or 1.75 percent, to close at 821.00 dollars per ounce. Enditem
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