Gold futures edge higher on weaker U.S. dollar

Source: Xinhua| 2019-12-14 04:41:55|Editor: huaxia
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CHICAGO, Dec. 13 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange edged higher on Friday, as the precious metal was buoyed by weakness in the U.S. dollar.

The most active gold contract for February delivery added 8.9 U.S. dollars, or 0.6 percent, to close at 1,481.2 dollars per ounce.

The U.S. dollar index, which measures the buck against six rivals, decreased 0.23 percent to 97.21 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, March silver went up 6.3 cents, or 0.37 percent, to close at 17.012 dollars per ounce. The January platinum dropped 16 dollars, or 1.69 percent, to settle at 928.8 dollars per ounce. Enditem