Gold extends losses on stronger US dollar

Chicago, Sep 10 (IANS) Gold futures on the COMEX division of the New York Mercantile Exchange extended losses on Wednesday and settled at the lowest price in a month as US dollar turned higher.

The most active gold contract for December delivery lost $19.00, or 1.69 percent, to settle at $1,102.00 dollars per ounce, Xinhua reported.

The price was the lowest settlement since August 7.

The US dollar ended higher on Wednesday, weighing down gold futures as gold was measured by the dollar.

The rally of European stocks and Asia market also lured the investors away from gold, analysts said.

On Wednesday, FTSE 100 Index, benchmark of London Stock Exchange, increased 1.35 percent, the CAC 40 Index gained 1.44 percent, while US stocks also opened higher.

Silver for December delivery gave up 17.90 cents, or 1.21 percent, to close at 14.576 dollars per ounce. Platinum for October delivery lost 21.70 dollars, or 2.16 percent, to close at 981.20 dollars 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 www.mangalorean.com or any employee thereof. www.mangalorean.com 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 www.mangalorean.com 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  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here