Gold falls on strong U.S. dollar

By Xu JingUnreguser
  • World
  • Tuesday, 26 Sep 2023

CHICAGO, Sept. 25 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Monday as the U.S. dollar strengthened.

The most active gold contract for December delivery fell 9 U.S. dollars, or 0.46 percent, to close at 1,936.60 dollars per ounce.

Rising U.S. Treasury yields also dampened gold.

Resilient U.S. economy keeps pressuring gold. The upside in gold remains restricted as Federal Reserve policymakers continue to maintain a hawkish stance for upcoming monetary policy meetings.

Investors are carefully monitoring the chances of a rate hike at the next Federal Open Market Committee meeting in November, while waiting for U.S. gross domestic product report due out on Thursday.

Silver for December delivery fell 45.90 cents, or 1.93 percent, to close at 23.385 dollars per ounce. Platinum for October delivery fell 16.60 dollars, or 1.78 percent, to close at 917.50 dollars per ounce.

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