Gold falls as U.S. dollar strengthens
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E-mail Xinhua, July 17, 2019
CHICAGO, July 16 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Tuesday amid a stronger U.S. dollar.
The most active gold contract for August delivery went down 2.30 U.S. dollars, or 0.16 percent, to close at 1,411.20 dollars per ounce.
The U.S. dollar index, a gauge of the greenback against a basket of other major currencies, went up 0.44 percent to 97.36 prior to the gold's settlement.
When the dollar strengthens, gold futures usually fall, as gold, priced in the dollar, becomes less expensive for investors holding other currencies.
As for other precious metals, silver for September delivery was up 31.3 cents, or 2.04 percent to close at 15.678 dollars per ounce. Platinum for October delivery was up 1.70 dollars, or 0.2 percent, to settle at 846.90 dollars per ounce. Enditem
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