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GOLD-FUTURE-COMEX
Gold futures extend gains on economical worries, weaker greenback
CHICAGO, Sept. 5, 2019 (BSS/Xinhua) – Gold futures on the COMEX division of
the New York Mercantile Exchange rose on Wednesday, as the precious metal was
boosted by economic worries and weakness in the U.S. dollar.
The most active gold contract for December delivery was up 4.5 U.S.
dollars, or 0.29 percent, to close at 1,560.4 dollars per ounce.
The U.S. dollar index, which measures the buck against six rivals, went
down 0.51 percent to 98.5 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 economical data, a gauge of U.S. manufacturing from the Institute
for Supply Management (ISM) showed the sector contracted in August.
The U.S. manufacturing PMI (purchasing managers’ index) registered 49.1
percent, a decrease of 2.1 percentage points from the July reading, according
to the Manufacturing ISM Report On Business released on Tuesday.
As for other precious metals, silver for December delivery was up 31 cents,
or 1.61 percent to close at 19.547 dollars per ounce. Platinum for October
delivery was up 28.6 dollars, or 2.99 percent, to settle at 984.2 dollars per
ounce.
Gold price higher in Hong Kong Thursday
The gold price in Hong Kong went up 90 Hong Kong dollars to open at 14,490
HK dollars (about 1,848.21 U.S. dollars) per tael on Thursday, according to
the Chinese Gold and Silver Exchange Society. (1 U.S. dollar equals to 7.84
HK dollars)
BSS/XINHUA/HR/1110