Gold rises on weaker U.S. dollar

By Xu JingUnreguser
  • World
  • Wednesday, 05 Oct 2022

CHICAGO, Oct. 4 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Tuesday as the U.S. dollar fell.

The most active gold contract for December delivery rose 28.5 U.S. dollars, or 1.67 percent, to close at 1,730.5 dollars per ounce.

Gold found additional support as the U.S. Labor Department of Labor reported Tuesday that U.S. job openings dropped to just under 10.1 million, down from 11.2 million in July. This is the lowest total since June 2021. Market analysts believe this could be an early sign of a cooling labor market.

The U.S. Commerce Department reported Tuesday that new orders for U.S. manufactured goods stayed unchanged from the previous month at 548.4 billion dollars in August.

Silver for December delivery rose 51 cents, or 2.48 percent, to close at 21.099 dollars per ounce. Platinum for January delivery rose 33.6 dollars, or 3.73 percent, to close at 933.7 dollars per ounce.

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