CHICAGO, May 22 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Monday as a weakening U.S. dollar continued its downturn.
The most active gold contract for June delivery went up 7.8 dollars, or 0.62 percent, to settle at 1,261.40 dollars per ounce.
Gold received support as the U.S. dollar index fell 0.18 percent to 96.95 as of 1848 GMT.
The index is a measure of the dollar against a basket of other major currencies. Gold and the dollar typically move in opposite directions, which means if the dollar goes down, gold futures will rise.
However, the precious metal was prevented from rising further as the U.S. Dow Jones Industrial Average climbed 82.51 points, or 0.40 percent to 20,887.35 as of 1857 GMT. When equities post gains, gold usually goes down.
Some analysts believed that a weaker U.S. dollar was due to continuing political controversy around President Donald Trump and his team, which might jeopardize his ambitious economic growth programs.
As for other precious metals, silver for July delivery rose 39.5 cents, or 2.35 percent, to close at 17.191 dollars per ounce. Platinum for July delivery was up 10.1 dollars, or 1.07 percent, to settle at 950.3 dollars per ounce.
