Gold falls on stronger U.S. dollar
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E-mail Xinhua, August 23, 2022
CHICAGO, Aug. 22 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Monday as the U.S. dollar strengthened.
The most active gold contract for December delivery fell 14.5 U.S. dollars, or 0.82 percent, to close at 1,748.4 dollars per ounce.
Rising U.S. treasury yields also dampened gold.
The Chicago Fed National Activity Index rose to 0.27 in July from a revised reading of minus 0.25 in June, beating the minus 0.10 consensus forecast from economists polled and further dampening gold.
Investors are also waiting for Federal Reserve Chairman Jerome Powell's speech at the Federal Reserve's annual economic symposium in Jackson Hole, Wyoming on Friday, hoping to get a hint on the plan for interest rates.
Silver for September delivery fell 19.1 cents, or 1 percent, to close at 18.878 dollars per ounce. Platinum for October delivery fell 20 dollars, or 2.25 percent, to close at 868 dollars per ounce. Enditem
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