Gold futures dip on rising U.S. equities
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E-mail Xinhua, October 5, 2019
CHICAGO, Oct. 4 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange ended lower on Friday, as the precious metal was pressured by rising U.S. equities.
The most active gold contract for December delivery declined 0.9 U.S. dollar, or 0.06 percent, to close at 1,512.9 dollars per ounce.
As of 1735 GMT, the Dow Jones Industrial Average added 372.68 points, or 1.42 percent. The S&P 500 Index went up 41.38 points, or 1.41 percent, and the Nasdaq Composite Index was up 110.21 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.
As for other precious metals, silver for December delivery went down 5.1 cents, or 0.29 percent to close at 17.625 dollars per ounce. Platinum for January delivery declined 7.5 dollars, or 0.84 percent, to settle at 886.9 dollars per ounce. Enditem
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