Gold futures end at lowest level of year as greenback goes stronger

Source: Xinhua| 2019-04-19 04:38:25|Editor: huaxia
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CHICAGO, April 18 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange edged lower on Thursday, with the jump in U.S. retail figures providing support for the U.S. dollar, dulling the appeal of the precious metal.

The most active gold contract for June delivery went down 0.8 dollar, or 0.06 percent, to settle at 1,276 dollars per ounce.

The settlement was the lowest finish for a most-active contract year to date, according to MarketWatch data.

The U.S. dollar index, which measures the buck against six rivals, went up 0.45 percent to 97.46 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 May delivery was up 1.6 cents, or 0.11 percent, to settle at 14.955 dollars per ounce. Platinum for July delivery was up 12.4 dollars, or 1.39 percent, to close at 903.7 dollars per ounce. Enditem

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