Gold futures edge slightly lower on stronger U.S. dollar

Source: Xinhua| 2018-08-11 03:42:10|Editor: huaxia
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CHICAGO, Aug. 10 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange closed lower on Friday, as a stronger U.S. dollar weighed on bullion.

The most active gold contract for December delivery went down 0.9 dollar, or 0.07 percent, to close at 1,219 dollars per ounce.

The U.S. dollar index, which measures the buck against six rivals, went up 0.77 percent to 96.37 as of 1845 GMT.

Gold usually moves in opposite directions with the U.S. dollar, which means if the dollar goes up, 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 September delivery went down 16.7 cents, or 1.08 percent, to settle at 15.295 dollars per ounce. Platinum for October fell 4.5 dollars, or 0.54 percent, to close at 829.6 dollars per ounce. Enditem