Gold falls on stronger U.S. dollar
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E-mail Xinhua, June 25, 2020
CHICAGO, June 24 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Wednesday as the U.S. dollar strengthened.
The most active gold contract for August delivery fell 6.9 U.S. dollars, or 0.39 percent, to close at 1,775.1 dollars per ounce.
Investors were concerned over the possibility of trade tariffs and geopolitical tension between the United States, Canada, and the European Union.
Most stock market indexes across the globe were down on Wednesday, capping the fall of gold somewhat.
Analysts noted that the second quarter is rapidly coming to a close and investors are rebalancing their books, which causes volatility in gold, and many investors believe that the recent rally in stocks is unsustainable, given that COVID-19 cases are spiking in several U.S. states.
Silver for July delivery fell 39.3 cents, or 2.18 percent, to close at 17.67 dollars per ounce. Platinum for July delivery fell 41.8 dollars, or 4.94 percent, to close at 804.6 dollars per ounce. Enditem
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