Gold futures fall on stronger U.S. dollar

Source: Xinhua| 2018-11-03 04:04:13|Editor: Mu Xuequan
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CHICAGO, Nov. 2 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell slightly on Friday, as strength in the U.S. dollar dulled demand for the precious metal.

The most active gold contract for December delivery went down 5.3 dollars, or 0.43 percent, to close at 1,233.3 dollars per ounce.

The U.S. dollar index, which measures the buck against six rivals, ticked up 0.14 percent to 96.52 as of 1900 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 fell 2.1 cents, or 0.14 percent, to settle at 14.756 dollars per ounce. Platinum for 2019 January rose 12.9 dollars, or 1.5 percent, to close at 875.7 dollars per ounce.

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