CHICAGO, Aug. 30 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange ended lower on Thursday, as investors remained cautious before a much-awaited speech by Federal Reserve Chairman Ben Bernanke on Friday.
The most active gold contract for December delivery declined 5. 9 dollars, or 0.35 percent, to settle at 1,657.1 dollars per ounce. Gold went up about 50 dollars in the past 30 days.
Hopes for any measures to be announced by Bernanke toward a new round of economic stimulus have faded, while some traders are still counting on his words for signs of a fresh round of quantitative easing, analysts said.
The U.S. dollar turned stronger Thursday, taking away some of the earlier support for gold.
The ICE dollar index, which measures the U.S. unit to a basket of six currencies, rose to 81.744 from 81.551 in North American trade late Wednesday. A stronger dollar is a negative for dollar- denominated commodities such as gold, as it makes them more expensive for holders of other currencies.
Silver for December delivery, the most active contract, fell 47. 6 cents, or 1.54 percent, to close at 30.446 dollars an ounce.