Gold futures edge lower on stronger greenback

0 Comment(s)Print E-mail Xinhua, October 22, 2019
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CHICAGO, Oct. 21 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange edged lower on Monday, as the precious metal was pressured by stronger greenback.

The most active gold contract for December delivery was down six U.S. dollars, or 0.4 percent, to close at 1,488.1 dollars per ounce.

The U.S. dollar index, which measures the buck against six rivals, went up 0.05 percent to 97.35 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 2.4 cents, or 0.14 percent to close at 17.602 dollars per ounce. Platinum for January delivery was down 3.7 dollars, or 0.41 percent, to settle at 892.2 dollars per ounce. Enditem

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