Gold futures rise to highest level in seven years
0 Comment(s)
Print
E-mail Xinhua, February 21, 2020
CHICAGO, Feb. 20 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Thursday to highest level since February 2013, as the yellow metal was buoyed by investors' technical buying.
The most active gold contract for April delivery added 8.7 U.S. dollars, or 0.54 percent, to settle at 1,620.5 dollars per ounce.
Gold futures ended higher for a sixth straight session as traders turned to technical buying as a benign interest-rate environment provide a runway higher for the precious metal.
However, the gains of gold prices were limited by stronger greenback. The U.S. dollar index, which measures the buck against six rivals, went up 0.12 percent to 99.83 as of 1930 GMT.
Gold usually moves in opposite directions with the U.S. dollar, which means if the dollar goes up, gold futures will fall as gold, priced in U.S. dollar, becomes more expensive for investors using other currencies.
As for other precious metals, March silver went up 0.8 cent, or 0.04 percent, to close at 18.319 dollars per ounce. April platinum plunged 25.5 dollars, or 2.54 percent, to settle at 979 dollars per ounce. Enditem
Go to Forum >>0 Comment(s)