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Gold Futures Fall on Stronger U.S. Dollar - July 26

Gold futures on the COMEX division of the New York Mercantile Exchange closed lower on Thursday, as the U.S. dollar strengthened.

The most active gold contract for August delivery went down 6.1 dollars, or 0.5 percent, to close at 1,225.7 dollars per ounce.

The U.S. dollar index, which measures the buck against six rivals, was up 0.58 percent to 94.76 as of 1955 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 9.4 cents, or 0.6 percent, to settle at 15.495 dollars per ounce. Platinum for October fell 4 dollars, or 0.48 percent, to close at 835.7 dollars per ounce.

(www.chinaview.cn 2018-07-27)