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Gold falls to the strength of the US dollar

Chicago, September 28 (Xinhua)-Gold futures on the COMEX division of the New York Mercantile Exchange fell on Tuesday due to the appreciation of the US dollar.

The most active gold contract for December deliveries fell US $ 14.5 (0.83%), closing at $ 1,737.5 per ounce.

The US-based Conference Board reported on Tuesday that the US Consumer Confidence Index fell to 109.3 in September. This is the lowest level in seven months since the August revision 115.2. This provides some support for gold.

In a prepared statement to Congress’s mandated testimony of the government’s response to COVID-19 on Tuesday, Federal Reserve Board Chair Jerome Powell said the Federal Reserve Board’s loan program was particularly “major.” It acted as a backstop to the credit market and helped restore the flow of credit from private lenders. ” Through regular channels. “

Separately, Treasury Secretary Janet Yellen said that while the COVID-19 Delta variant delayed recovery, it was “optimistic about the medium-term trajectory of our economy.”

Silver delivered in December fell 22.7 cents (1%) and closed at $ 22.467 per ounce. Platinum delivered in January fell $ 15.9 (1.63%) and closed at $ 961.9 an ounce.

Gold falls to the strength of the US dollar

Source link Gold falls to the strength of the US dollar

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