Gold futures edge higher on falling U.S. equities

0 Comment(s)Print E-mail Xinhua, June 26, 2019
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CHICAGO, June 25 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange settled higher on Tuesday, as the precious metal was boosted by weaker U.S. equities.

The most active gold contract for August delivery went up 0.5 dollar, or 0.04 percent, to close at 1,418.7 U.S. dollars per ounce.

As of 1745 GMT, the Dow Jones Industrial Average fell 145.75 points, or 0.55 percent. The S&P 500 Index went down 22.73 points, or 0.77 percent, and the Nasdaq Composite Index was down 112.27 points, or 1.4 percent.

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 7.7 cents, or 0.5 percent, to settle at 15.3 dollars per ounce. Platinum for July delivery was down 1.9 dollars, or 0.23 percent, to close at 809.8 dollars per ounce. Enditem

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