CHICAGO, Feb. 21 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange posted the biggest daily loss Thursday.
The most active gold contract for April delivery dropped 20.10 U.S. dollars, or 1.49 percent, to settle at 1,327.80 dollars per ounce.
Analysts attributed the steep loss to minutes from the Fed's January meeting released Wednesday, which sounded less dovish than investors had expected, as well as a stronger dollar.
The U.S. dollar index, which measures the buck against six rivals, went up 0.11 percent to 95.65 as of 1830 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 March delivery was down 37.60 cents, or 2.32 percent, to settle at 15.801 dollars per ounce. Platinum for April delivery fell 7.90 dollars, or 0.95 percent, to close at 826.30 dollars per ounce.
