CHICAGO, Aug. 22 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange settled lower on Thursday, as investors awaited a clear massage from U.S. Federal Reserve on the outlook of interest rate cuts.

Fed chairman Jerome Powell is expected to give some clarity on U.S. monetary policy at a Jackson Hole, Wyoming, meeting on Friday.

The most active gold contract for December delivery fell 7.2 U.S. dollars to close at 1,508.50 dollars per ounce.

The Dow Jones Industrial Average, which fell slightly in the morning, gradually turned some 100 points higher prior to gold's settlement. The rise of equities usually leads to the fall of gold.

As for other precious metals, silver for September delivery was down 11.1 cents, or 0.65 percent to close at 17.04 dollars per ounce. Platinum for October delivery was up 3.8 dollars, or 0.44 percent, to settle at 861.90 dollars per ounce. Enditem

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