Gold falls on stronger U.S. dollar

0 Comment(s)Print E-mail Xinhua, January 15, 2022
Adjust font size:

CHICAGO, Jan. 14 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Friday as the U.S. dollar rose.

The most active gold contract for February delivery fell 4.9 U.S. dollars, or 0.27 percent, to close at 1,816.5 dollars per ounce.

Profit taking pending the long holiday weekend may also attributed to gold's fall. Gold rose 1.1 percent in the week.

Positive economic data released on Friday supported gold. U.S. Commerce Department reported that U.S. retail sales declined 1.9 percent in December, much higher than the 0.1-percent decline forecast by economists.

The preliminary reading of the University of Michigan sentiment index in January fell to 68.8 from 70.6 in the prior month owing to fresh worries about the coronavirus omicron variant and high inflation, the second lowest in the past decade.

The Federal Reserve reported that U.S. industrial production slipped 0.1 percent in December.

The market will be closed on Monday to mark the Martin Luther King Jr. Day holiday.

Silver for March delivery fell 24.4 cents, or 1.05 percent, to close at 22.918 dollars per ounce. Platinum for April delivery fell 7.6 dollars, or 0.78 percent, to close at 964.6 dollars per ounce. Enditem

Follow on Twitter and Facebook to join the conversation.
ChinaNews App Download
Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from