Gold futures edge higher on weaker greenback
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E-mail Xinhua, May 1, 2019
CHICAGO, April 30 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange edged higher on Tuesday, as the precious metal was boosted by a weaker U.S. dollar.
The most active gold contract for June delivery went up 4.2 dollars, or 0.33 percent, to settle at 1,285.7 U.S. dollars per ounce.
The U.S. dollar index, which measures the buck against six rivals, went down 0.34 percent to 97.51 as of 1730 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 July delivery was up 5.1 cents, or 0.34 percent, to settle at 14.984 dollars per ounce. Platinum for July delivery was down 9.6 dollars, or 1.07 percent, to close at 891.7 dollars per ounce. Enditem
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