Gold rises on weaker U.S. dollar

By Xu JingUnreguser

CHICAGO, Aug. 10 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Wednesday as the U.S. dollar fell.

The most active gold contract for December delivery rose 1.4 U.S. dollars, or 0.08 percent, to close at 1,813.7 dollars per ounce.

U.S. Labor Department reported Wednesday that U.S. consumer price index (CPI) slowed to an 8.5-percent yearly rate in July from 9.1 percent in June. Market analysts hold that though a sharp decrease in gasoline prices helped decelerate the CPI, inflation pressures remain strong, especially in the core services sector.

Silver for September delivery rose 26 cents, or 1.27 percent, to close at 20.742 dollars per ounce. Platinum for October delivery rose 13.1 dollars, or 1.4 percent, to close at 946.1 dollars per ounce.

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