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Gold futures rise on weakened U.S. dollar

Source: Xinhua| 2017-12-29 04:54:40|Editor: huaxia
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CHICAGO, Dec. 28 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange closed higher on Thursday, pushing prices for the yellow metal to the highest finish in about 10 weeks as the U.S. dollar extended a streak of weakness.

The most active gold contract for February delivery went up 5.8 dollars, or 0.45 percent, to close at 1297.2 dollars per ounce.

The dollar slipped to its lowest level in about three months as the U.S. dollar index lost 0.5 percent to 92.58, representing its lowest level since late September.

The index measures the buck against a basket of a half-dozen rivals. A weaker dollar tends to provide a boost to dollar-pegged commodities, making them more attractive to users of weaker monetary units.

As for other precious metals, silver for March delivery added 16.7 cents, or 1 percent, to settle at 16.923 dollars per ounce. Platinum for January rose 3.2 dollars, or 0.35 percent, to close at 926.9 dollars per ounce. Enditem

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