CHICAGO, April 1 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Wednesday as the U.S. dollar strengthened, despite an expected spate of bad economic data ahead.
The most active gold contract for June delivery fell 5.2 U.S. dollars, or 0.33 percent, to close at 1,591.4 dollars per ounce.
The U.S. Dollar Index rose by 0.72 point, or 0.73 percent, to a 99.77 level as of 1855 GMT.
Nevertheless, the precious metal was given support as the Dow Jones Industrial Average fell by 783.54 points, or 3.58 percent, to a 21,133.62 level as of 1755 GMT.
Gold gained further support as investors wait for the release of a weekly jobless claims report on Thursday, as well as a nonfarm payrolls report and unemployment rate report on Friday. Market analysts believe these reports are likely to be negative due to the economic impacts of the coronavirus outbreak and therefore support higher prices of gold driven by safe haven demand.
Silver for May delivery fell 17.2 cents, or 1.22 percent, to close at 13.984 dollars per ounce. Platinum for July delivery fell 12.1 dollars, or 1.66 percent, to close at 717.8 dollars per ounce. Enditem
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