Gold falls on U.S. dollar strength


By Xu JingUnreguser
  • World
  • Saturday, 24 Sep 2022

CHICAGO, Sept. 23 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Friday as U.S. dollar index rose sharply.

The most active gold contract for December delivery fell 25.5 U.S. dollars, or 1.52 percent, to close at 1,655.6 dollars per ounce.

Gold settled at its lowest level since early April 2020, and dropped 1.7 percent for the week.

The S&P Global survey U.S. flash manufacturing purchasing managers index (PMI) nudged up to 51.8 in September. Economists expected the index to slip to 51.1.

Meanwhile, the S&P Global survey U.S. flash services PMI rose to 49.2 in September from 43.7 in August.

Silver for December delivery fell 70.7 cents, or 3.6 percent, to close at 18.91 dollars per ounce. Platinum for October delivery fell 47.3 dollars, or 5.22 percent, to close at 858.7 dollars per ounce.

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