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Gold futures rise as U.S dollar retreats

09 August 2018 [11:31] - TODAY.AZ

By  Trend

Gold futures on the COMEX division of the New York Mercantile Exchange closed higher on Wednesday, as the U.S. dollar went weak, Xinhua reports.

The most active gold contract for December delivery went up 2.7 dollars, or 0.22 percent, to close at 1,221 dollars per ounce.

The U.S. dollar index, which measures the buck against six rivals, decreased 0.12 percent to 95.06.

Gold usually moves in opposite directions with the U.S. dollar, which means if the dollar goes down, gold futures will rise as gold, priced in U.S. dollar, becomes less expensive for investors using other currencies.


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