ZCZC
BCN-26
US-GOLD-FUTURE-COMEX
Gold futures rise on weaker greenback, safe haven buying
CHICAGO, Oct. 17, 2019 (BSS/Xinhua) – Gold futures on the COMEX division
of the New York Mercantile Exchange settled higher on Wednesday, as the
precious metal was boosted by weaker greenback and investors’ safe haven
buying.
The most active gold contract for December delivery was up 10.5 U.S.
dollars, or 0.71 percent, to close at 1,494 dollars per ounce.
The U.S. dollar index, which measures the buck against six rivals, went
down 0.34 percent to 97.95 as of 1730 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 for other precious metals, silver for December delivery was up 4.3
cents, or 0.25 percent to close at 17.427 dollars per ounce. Platinum for
January delivery was up 1.5 dollars, or 0.17 percent, to settle at 890.7
dollars per ounce.
BSS/XINHUA/HR/1415