Gold futures dip on stronger greenback, technical selling

Source: Xinhua| 2019-06-27 05:14:18|Editor: huaxia
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CHICAGO, June 26 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange settle lower on Wednesday, after big gains on four straight sessions.

The most active gold contract for August delivery went down 3.3 U.S. dollars, or 0.23 percent, to close at 1,414.1 dollars per ounce.

The U.S. dollar index, which measures the buck against six rivals, went up 0.02 percent to 97.16 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 July delivery was down 0.6 cents, or 0.04 percent, to settle at 15.294 dollars per ounce. Platinum for October delivery was up 7.5 dollars, or 0.92 percent, to close at 822 dollars per ounce. Enditem