Gold rises on weaker U.S. dollar

CHICAGO, Dec. 27 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Tuesday as the U.S. dollar weakened.

The most active gold contract for February delivery rose 18.9 U.S. dollars, or 1.05 percent, to close at 1,823.1 dollars per ounce.

The U.S. dollar index has fallen 7 percent since the start of the fourth quarter.

China has relaxed COVID-19 restrictions, raising hopes of boosting its economy. Investors take this as a bullish signal for gold, as physical demand for gold may increase.

Silver for March delivery rose 29.7 cents, or 1.24 percent, to close at 24.217 dollars per ounce. Platinum for April delivery rose 0.1 dollars, or 0.01 percent, to close at 1,032.7 dollars per ounce.