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.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!
   

Next In World

U.S. CIA's in-house museum adds new spy exhibits
Confucius Day marked in Budapest with cultural programs
Saudi crown prince meets with Turkish officials - SPA
Somaliland postpones presidential election to next year
Russia's Lavrov accuses Washington of playing with fire around Taiwan
Russia parliament may study annexation of occupied Ukraine on Thursday - TASS
Iran says U.S. move to ease internet sanctions is part of its hostile stance
Buckingham Palace issues photo of Queen Elizabeth's final resting place
Uganda to boost Chinese language learning at upper secondary school
Feature: Rich Chinese culture wows culture lovers in Rwanda

Others Also Read