ZCZC
BCN-11
US-GOLD-FUTURE-COMEX
Gold retreats as U.S. dollar strengthens
CHICAGO, July 20, 2019 (BSS/Xinhua) – Gold futures on the COMEX division of
the New York Mercantile Exchange fell slightly on Friday as the U.S. dollar
strengthened.
The most active gold contract for August delivery went down 1.40 U.S.
dollars, or 0.1 percent, to close at 1,426.70 dollars per ounce.
The U.S. dollar index, a measure of the greenback against a basket of other
major currencies, rose 0.33 percent to 97.11 ahead of gold’s settlement.
When the dollar rises, gold futures usually fall, as dollar-priced gold
becomes more expensive thus less attractive to investors holding other
currencies.
Still, gold futures posted more than 1 percent gains this week amid hopes
of possible interest rate cuts later this year.
As for other precious metals, silver for September delivery was down 0.3
cent, or 0.02 percent to close at 16.195 dollars per ounce. Platinum for
October delivery was up 2.20 dollars, or 0.26 percent, to settle at 852.10
dollars per ounce.
BSS/XINHUA/HR/1130