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Gold Futures Rise as U.S. Dollar Goes Weaker

Gold futures on the COMEX division of the New York Mercantile Exchange closed higher on Monday, as the U.S. dollar went weaker.

The most active gold contract for December delivery added 2.7 dollars, or 0.22 percent, to close at 1,216 dollars per ounce.

The U.S. dollar index, which measures the buck against six rivals, fell 0.39 percent to 94.778 as of 2000 GMT.

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

As for other precious metals, silver for September delivery rose 6.5 cents, or 0.44 percent, to settle at 14.859 dollars per ounce. Platinum for October added 14.8 dollars, or 1.87 percent, to close at 804.2 dollars per ounce.

(www.chinaview.cn 2018-08-28)