ZCZC
BCN-27
US-GOLD-FUTURE-COMEX
U.S. gold higher amid weaker dollar
CHICAGO, June 8, 2018 (BSS/Xinhua) – Gold futures on the COMEX division of
the New York Mercantile Exchange inched higher on Thursday as the U.S. dollar
weakened further.
The most active gold contract for August delivery rose 1.6 dollars, or
0.12 percent, to close at 1,303.00 dollars per ounce.
The U.S. dollar index, a gauge of the greenback against a basket of other
major currencies, fell 0.29 percent to 93.365 as of 1629 GMT. When the dollar
falls, the gold usually rises as the dollar-priced precious metal became less
expensive for investors using other currencies.
Gold futures got additional support from the benchmark 10-year U.S.
Treasury, as the yields declined to 2.933 percent.
However, the Dow Jones Industrial Average went up 119.09 points, or 0.47
percent to 25,265.48 points as of 1639 GMT, curbing the rise of gold, as
investors are not necessarily looking for a safe haven.
As for other precious metals, silver for July delivery rose 12.1 cents, or
0.72 percent, to settle at 16.815 dollars per ounce. Platinum for July was
down 7.3 dollars, or 0.8 percent, to close at 900.30 dollars per ounce.
BSS/XINHUA/HR/1130