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Gold Futures Fall For Fourth Consecutive Day As Greenback Goes Strong
 

Gold futures on the COMEX division of the New York Mercantile Exchange fell for the fourth consecutive day to close at more than 6-month low on Thursday, as the precious metal continued to be walloped by recent momentum in the U.S. dollar.

The most active gold contract for August delivery went down 5.1 dollars, or 0.41 percent, to close at 1,251 dollars per ounce.

The U.S. dollar index, which measures the buck against six rivals, went up 0.09 percent to 95.38 as of 2000 GMT. As a whole, the U.S. dollar boasts a weekly gain of 0.7 percent and is up 1.3 percent so far in June.

Gold usually moves in opposite directions with the U.S. dollar, which means if the dollar goes up, gold futures will fall as gold, priced in U.S. dollar, becomes more expensive for investors using other currencies.

As for other precious metals, silver for September delivery dropped 19.6 cents, or 1.61 percent, to settle at 16.151 dollars per ounce. Platinum for October fell 6.8 dollars, or 0.79 percent, to close at 855.2 dollars per ounce.


(www.chinaview.cn 2018-06-29)
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