CHICAGO, April 24 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose moderately on Wednesday as equities retreated.
The most active June gold was up 6.20 U.S. dollars, or 0.49 percent, to close at 1,279.40 dollars per ounce.
Following a significant rally during the previous session, the Wall Street stocks went down on Wednesday. At midday local time, the Dow Jones Industrial Average fell 25.76 points, or 0.10 percent, to 26,630.63. The S&P 500 and the Nasdaq Composite Index followed Dow's fall.
When equities go down, gold futures usually rise, as investors are lured to safe-haven assets, such as gold.
However, a stronger dollar kept gains of gold in check. The U.S. dollar index, which measures the greenback against six major peers, climbed 0.41 percent to 98.00 as of 1719 GMT, shortly before gold's settlement.
If the dollar strengthens, gold futures will feel the pressure as gold, priced in the dollar, becomes costlier for investors holding other currencies.
As for other previous metals, silver for May delivery was up 12.5 cents, or 0.85 percent to settle at 14.916 dollars per ounce. Platinum for July delivery was down 5.20 dollars, or 0.58 percent, to close at 888.60 dollars per ounce. Enditem
