Gold futures close higher as greenback weakens
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E-mail Xinhua, October 18, 2019
CHICAGO, Oct. 17 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange settled at their highest level in a week on Thursday, as the precious metal was boosted by weaker greenback.
The most active gold contract for December delivery was up 4.3 U.S. dollars, or 0.29 percent, to close at 1,498.3 dollars per ounce.
The U.S. dollar index, which measures the buck against six rivals, went down 0.38 percent to 97.63 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 18.5 cents, or 1.06 percent to close at 17.612 dollars per ounce. Platinum for January delivery was up 2.3 dollars, or 0.26 percent, to settle at 893 dollars per ounce. Enditem
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