Gold futures settle lower on trade optimism

0 Comment(s)Print E-mail Xinhua, June 20, 2019
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CHICAGO, June 19 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange settled lower Wednesday, as the U.S. equities rose on optimism over trade talks between the United States and China.

The most active gold contract for August delivery went down 1.9 dollars, or 0.14 percent, to close at 1,348.8 U.S. dollars per ounce.

U.S. stocks ended higher on Wednesday. The Dow was up 0.15 percent to 26,504.00, the S&P 500 increased 0.30 percent to 2,926.46, and the Nasdaq rose 0.42 percent to 7,987.32.

Gold usually moves in opposite directions with the U.S. equities. When the stock markets were on the rise, investors may stop buying safe-haven assets, such as gold.

As for other precious metals, silver for July delivery was down 3.5 cents, or 0.23 percent, to settle at 14.958 dollars per ounce. Platinum for July delivery was up 3.8 dollars, or 0.47 percent, to close at 805.8 dollars per ounce. Enditem

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