ZCZC
BCN-24
US-GOLD-FUTURE-COMEX
Gold futures fall on stronger greenback, rising U.S. equities
CHICAGO, July 24, 2019 (BSS/Xinhua) – Gold futures on the COMEX division
of the New York Mercantile Exchange closed lower on Tuesday, as a stronger
U.S. dollar and rising U.S. equities dulled the appeal of the safe haven
metal.
The most active gold contract for August delivery went down 5.2 U.S.
dollars, or 0.36 percent, to close at 1,421.7 dollars per ounce.
The U.S. dollar index, which measures the buck against six rivals, went up
0.46 percent to 97.70 as of 1710 GMT.
Gold usually moves in opposite directions with the U.S. dollar, which
means if the dollar goes strong, gold futures will fall as gold, priced in
U.S. dollar, becomes expensive for investors using other currencies.
As of 1715 GMT, the Dow Jones Industrial Average added 153.44 points, or
0.56 percent. The S&P 500 Index went up 16.36 points, or 0.55 percent, and
the Nasdaq Composite Index was up 29.26 points, or 0.36 percent.
Gold usually moves in opposite directions with the U.S. equities. When the
stock markets were on the rise, investors may stop buying safe-haven assets.
As for other precious metals, silver for September delivery was up 6.5
cents, or 0.4 percent, to settle at 16.476 dollars per ounce. Platinum for
October delivery was up 8.9 dollars, or 1.04 percent, to close at 861.6
dollars per ounce.
BSS/XINHUA/HR/1345