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Gold Futures Fall as U.S. Dollar Strengthens - Aug. 6

Gold futures on the COMEX division of the New York Mercantile Exchange closed lower on Monday, as the U.S. dollar gained ground, weighing on the precious metal that has been hovering near 2018 lows.

The most active gold contract for December delivery dropped 5.5 U.S. dollars, or 0.45 percent, to close at 1,217.7 dollars per ounce.

The U.S. dollar index, which measures the buck against six rivals, went up 0.22 percent to 95.355 as of 2000 GMT.

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 went down 11.4 cents, or 0.74 percent, to settle at 15.348 dollars per ounce. Platinum for October fell 10.6 dollars, or 1.27 percent, to close at 826.3 dollars per ounce.

(www.chinaview.cn 2018-08-07)