Gold falls as U.S. dollar strengthens

By Xu JingUnreguser
  • World
  • Tuesday, 07 Jun 2022

CHICAGO, June 6 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Monday as the U.S. dollar strengthened.

The most active gold contract for August delivery fell 6.5 U.S. dollars, or 0.35 percent, to close at 1,843.7 dollars per ounce.

Rising U.S. Treasury yields also dampened gold.

Gold has been under the influence of U.S. dollar index recently, which hinges on two factors: U.S. economic figures and the Federal Reserve's monetary policy stance, market analysts said, holding that the most important price level for gold this week is its resistance at 1,900.

Silver for July delivery rose 18.4 cents, or 0.84 percent, to close at 22.092 dollars per ounce. Platinum for July delivery rose 13.6 dollars, or 1.34 percent, to close at 1,030.00 dollars per ounce.

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