Chicago: Gold futures on the COMEX division of the New
York Mercantile Exchange fell for the third straight day as the US
dollar kept its bullish momentum.
The most active gold contract for December delivery was down 7.50 US dollars, or 0.49 percent, to close at 1,529.40 dollars per ounce, Xinhua news agency reporters.
The US dollar index, a gauge of the greenback against a basket of other major currencies, was up 0.44 per cent to 98.94 shortly before gold's settlement.
When the dollar strengthens, the dollar-priced gold usually falls as it becomes more expensive for investors holding other currencies.
As for other precious metals, silver for December delivery was up 1.9 cents, or 0.1 per cent to close at 18.342 dollars per ounce. Platinum for October delivery was up 11.70 dollars, or 1.27 per cent, to settle at 931.70 dollars per ounce.
Although gold was down on the last trading day of August, it ended this month with a more than 6-per cent rise.
US-China trade tensions, worries over global growth and uncertainty of Brexit process led to significant monthly gains in gold futures, said analysts.
|Gold rate in india |
Get latest gold rates on the go with the Gold Rate Now App on your Android smartphone. Click here to download.