Gold futures settle under 1,500 USD on stronger greenback

0 Comment(s)Print E-mail Xinhua, September 11, 2019
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CHICAGO, Sept. 10 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange settled under the psychologically significant 1,500 U.S. dollars per ounce mark on Tuesday, as the precious metal was pressured by a stronger greenback.

The most active gold contract for December delivery was down 11.9 U.S. dollars, or 0.79 percent, to close at 1,499.2 dollars per ounce.

The U.S. dollar index, which measures the buck against six rivals, went up 0.1 percent to 98.38 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 December delivery was up 1.9 cents, or 0.1 percent to close at 18.186 dollars per ounce. Platinum for October delivery was down 16.1 dollars, or 1.69 percent, to settle at 936.6 dollars per ounce. Enditem

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