ZCZC
BCN-21
US-GOLD-PRICE-COMEX
Gold edges higher as U.S. dollar retreats
CHICAGO, June 23, 2018 (BSS/Xinhua) – Gold futures on the COMEX division
of the New York Mercantile Exchange settled slightly higher on Friday as U.S.
dollar retreated.
The most active gold contract for August delivery rose 20 cents, or 0.02
percent, to close at 1270.70 dollars per ounce.
The U.S. dollar index, a gauge of the greenback against a basket of other
major currencies, fell 0.26 percent to 74.62 as of 1711 GMT.
Gold and the dollar usually move in opposite directions. When the dollar
goes down, gold futures will rise as gold, priced in the dollar, becomes less
expensive for investors using other currencies.
However, the Dow Jones Industrial Average rebounded on Friday following a
sharp fall in the previous session. It rose 164.90 points, or 0.67 percent to
24,626.60 as of 1721 GMT. The rebounce of equities curbed the rise of gold.
Still, gold suffered a 0.6 percent loss on a weekly basis.
As for other precious metals, silver for July delivery rose 13.3 cents, or
0.81 percent, to close at 16.459 dollars per ounce. Platinum for July was up
10.10 dollars, or 1.17 percent, to settle at 873.30 dollars per ounce.
BSS/XINHUA/HR/1100