Gold extends losses on firmer dollar  

Chicago, Sep 4 (IANS) Gold futures on the COMEX division of the New York Mercantile Exchange extended losses as the US dollar continued to strengthen.

The most active gold contract for December delivery lost $9.10 (0.80 percent) on Thursday to settle at $1,124.50 per ounce, reported Xinhua news agency.

The European Central Bank (ECB) decided to leave key interest rates unchanged and increase the issue share limit.

ECB President Mario Draghi said the issue share limit would be raised from the initial limit of 25 percent to 33 percent.

Analysts said the ECB’s decision helped the US dollar continue to move higher against euro and other major currencies, pressing gold futures to settle lower.

The US stocks traded higher as investors tried to digest a batch of mixed economic reports. FTSE 100 Index, the British benchmark stock market also closed higher on Thursday, which also weighed on gold futures.

Analysts also said gold settled lower amid thin trade as investors wait for a key US jobs report to gauge the timing of a Federal Reserve rate hike.

As for the other metals on the Comex, silver for December delivery rose 4 cents (0.27 percent) to close at $14.707 per ounce.

Platinum for October delivery lost $3.50 (0.35 percent) to close at $1,010.10 per ounce.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of or any employee thereof. is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here