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Gold falls on stronger dollar

English.news.cn   2014-01-29 05:14:44

CHICAGO, Jan. 28 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange went down Tuesday on a stronger U.S. dollar.

The most active gold contract for February delivery fell 12.6 dollars, or one percent, to settle at 1,250.8 dollars per ounce.

Upbeat economic data fueled a rise in equities and boosted the dollar against most other currencies, which in turn pushed down gold prices. The consumer confidence index rose to 80.7 in January from 77.5 in December, the Conference Board reported on Tuesday.

Investors are eying the Federal Reserve's next move on its stimulus after its two-day meeting that will conclude on Wednesday, as well as signals of the Fed's future policy course from Janet Yellen, the current vice chair who will take the helm on Feb. 1.

Silver for March delivery lost 29 cents, or 1.47 percent, to 19. 503 dollars per ounce. Platinum for April delivery shed 11.7 dollars, or 0.82 percent, to 1,409.4 dollars per ounce.

Editor: Mu Xuequan
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