CHICAGO, Aug. 23 (Xinhua)-- Gold futures on the COMEX division of the New York Mercantile Exchange tilted higher on Wednesday, as a wobbly dollar and losses in U.S. equities supported the yellow metal.
The most active gold contract for December delivery went up 3.7 dollars, or 0.29 percent, to settle at 1,294.7 dollars per ounce.
The greenback, as measured by the U.S. Dollar Index, fell 0.3 percent as 1930 GMT. A weaker dollar tends to support dollar-denominated gold prices, while losses in the stock market can lift investment demand for the yellow metal.
Traders and investors showed caution ahead of the three-day economic policy symposium of global central bankers in Jackson Hole of Wyoming beginning Thursday. They will be looking for hints from central bankers on any changes to monetary policy.
Higher rates tend to boost the dollar, cutting demand for gold investors using other currencies. Higher rates also boost the appeal of investments that offer a yield, which gold does not.
As for other precious metals, silver for September delivery rose 6.4 cents, or 0.38 percent, to close at 17.046 dollars per ounce. Platinum for October fell 0.4 dollar, or 0.04 percent, to settle at 980.9 dollars per ounce. Enditem
