Gold down amid vaccine news

By Xu JingUnreguser

CHICAGO, Nov. 27 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Friday as the market digested COVID-19 vaccine news.

The most active gold contract for February delivery fell 23.1 U.S. dollars, or 1.28 percent, to close at 1,788.1 dollars per ounce.

The U.S. Dollar Index fell, which would normally be supportive to gold. But market analysts believe it had no impact on the precious metal as investors have been using the U.S. dollar as a safe haven similar to gold during the COVID-19 pandemic.

Gold shed 4.5 percent in the week, marking the sharpest for gold futures since the week ended Sept. 25.

Silver for March delivery fell 80.7 cents, or 3.44 percent, to close at 22.639 dollars per ounce. Platinum for January delivery fell 5 dollars, or 0.52 percent, to close at 964.8 dollars per ounce.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3

Did you find this article insightful?


100% readers found this article insightful

Next In World

Democrats to take working control of U.S. Senate Wednesday when three sworn in
Xinhua Middle East news summary at 2200 GMT, Jan. 19
About 2.5 mln children in U.S. infected with COVID-19
U.S.-listed Chinese firms trade higher
Canada to change travel rules due to COVID-19 variants
EU aims to vaccinate 70 pct adults by summer
Feature: Rome tutor says she's in her element with online teaching during pandemic
Hundreds of Hondurans return home after migrant caravan falls apart in Guatemala
U.S. stocks rise amid stimulus hopes, earnings
BBAM adds 12 Boeing Converted Freighters

Stories You'll Enjoy