Gold rises as U.S. dollar weakens


By Xu JingUnreguser
  • World
  • Saturday, 24 Feb 2024

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

The most active gold contract for April delivery rose 18.70 U.S. dollars, or 0.92 percent, to close at 2,049.40 dollars per ounce.

Falling U.S. Treasury yields also supported gold.

The hawkish stance of several Federal Reserve officials this week has entirely priced out the possibility of a rate cut in May.

U.S. gross domestic product report will be released on Wednesday.

Silver for March delivery rose 19.80 cents, or 0.87 percent, to close at 22.982 dollars per ounce. Platinum for April delivery rose 4.10 dollars, or 0.45 percent, to close at 909.60 dollars per ounce.

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

Next In World

Invitation-only audio social network is the hot new app in tech circles�
US signals Venezuela oil sanctions relief at risk as deadline looms
New Zealand's Education Ministry latest to announce cuts, as public service downsizes
Interest in EU election higher this time around, poll shows
Lloyd’s: Thousands of Taylor Swift fans hit by UK ticket scams
Man fatally shot Uber driver after scam phone calls targeted both of them, US authorities say
SMS scams top the list of cybersecurity threats experienced by consumers
Haiti names members of transitional council set to take power
Who’s calling the shots on TikTok: Millennials or Gen Z?
U.S. crude oil inventories up last week: API

Others Also Read