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Gold Futures Rise on Weakened U.S. Dollar - Aug. 22

Gold futures on the COMEX division of the New York Mercantile Exchange closed higher on Wednesday, as the U.S. dollar goes weak, providing support for bullion.

The most active gold contract for December delivery went up 3.3 dollars, or 0.28 percent, to close at 1,203.3 dollars per ounce.

The U.S. dollar index, which measures the buck against six rivals, decreased 0.16 percent to 95.05 as of 1825 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 went down 1.6 cents, or 0.11 percent, to settle at 14.75 dollars per ounce. Platinum for October was up 0.7 dollar, or 0.09 percent, to close at 793.7 dollars per ounce.

(www.chinaview.cn 2018-08-23)