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.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In World

Ukraine identifies Russian suspect in July attack on children's hospital
Trump, Harris to clash at debate that could reshape 2024 race
Russia reports new gains in Donbas, saying Ukraine's incursion has failed to distract it
Islamic scholar's rape acquittal overturned by Geneva court
Japan PM hopeful Ishiba says complete exit from deflation is crucial
East Timor turns out in force for Mass with Pope Francis
Australian farmers protest animal, environment policies they say harm them
Russian attacks injure three, damage infrastructure in Ukraine, authorities say
Alleged killer of Ugandan Olympian dies from burns, hospital says
Pakistan police detain several lawmakers of jailed Imran Khan's party

Others Also Read