Gold falls as U.S. dollar strengthens


By Xu JingUnreguser

CHICAGO, May 25 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Wednesday as the U.S. dollar rose.

The most active gold contract for June delivery fell 19.1 U.S. dollars, or 1.02 percent, to close at 1,846.30 dollars per ounce.

Investors also awaited the release of the Federal Reserve's early May policy meeting for hints about its future policy course.

Shortly after gold's floor trading closed, the Federal Open Market Committee (FOMC) minutes came out, showing that most FOMC members believe inflation may no longer be worsening, and 50-basis-point rate hikes will be appropriate at the next couple of meetings.

The U.S. Commerce Department reported Wednesday that U.S. durable goods orders rose only 0.4 percent in April, slightly less than analysts had expected.

Silver for July delivery fell 19.3 cents, or 0.87 percent, to close at 21.87 dollars per ounce. Platinum for July delivery fell 13.6 dollars, or 1.44 percent, to close at 929.3 dollars per ounce.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In World

Four killed, hundreds injured as stand collapses during bullfight in Colombia - BBC
Six police die in shootout in northern Mexico
Hundreds protest for climate justice as G7 leaders meet in Bavaria
China beats Lithuania for 3X3 Basketball World Cup bronze
French lawmakers plan $8.4 billion aid for households to fight inflation
Israeli assets abroad decline for 1st time since 2020: report
China claims first diving gold of Budapest Worlds
Kalle Rovanpera storms to WRC Safari Rally victory
3rd LD-Writethru: South African president mourns for 22 teenagers dead in tavern
Family bids farewell to British journalist murdered in the Amazon

Others Also Read