Gold falls on stronger U.S. dollar

By Xu JingUnreguser

CHICAGO, Aug. 19 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Friday as the U.S. dollar strengthened.

The most active gold contract for December delivery fell 8.3 U.S. dollars, or 0.47 percent, to close at 1,762.9 dollars per ounce.

Richmond Fed President Thomas Barkin said at an event in the U.S. state of Maryland on Friday that he believes the Federal Reserve will do what is necessary to bring inflation back to the Fed's targeted rate of 2 percent, but it is unlikely to happen immediately. His comment boosted U.S. treasury yields, further dampening gold.

Silver for September delivery fell 39.5 cents, or 2.03 percent, to close at 19.069 dollars per ounce. Platinum for October delivery fell 16.9 dollars, or 1.87 percent, to close at 888 dollars per ounce.

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