ZCZC
BCN-20
US-GOLD-FUTURES-COMEX
Gold rises as U.S. dollar, equities retreat
CHICAGO, July 18, 2019 (BSS/Xinhua) – Gold futures on the COMEX division
of the New York Mercantile Exchange settled higher on Wednesday, finding
support in a weakening U.S. dollar and falling stocks.
The most active gold contract for August delivery went up 12.10 U.S.
dollars, or 0.86 percent, to close at 1,423.30 dollars per ounce.
The U.S. dollar index, a gauge of the greenback against a basket of other
major currencies, fell 0.19 percent to 97.21 shortly before gold’s
settlement.
When the dollar retreats, gold futures usually rise, as gold, priced in
the dollar, becomes more attractive to investors holding other currencies.
Meanwhile, the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite
Index all declined on Wednesday, lifting safe-haven appetite among investors.
As for other precious metals, silver for September delivery was up 29.3
cents, or 1.87 percent to close at 15.971 dollars per ounce. Platinum for
October delivery was up 0.20 dollars, or 0.02 percent, to settle at 847.10
dollars per ounce.
BSS/XINHUA/HR/1210