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28-Sep2016

Gold futures end lower as dollar strengthens

Gold futures ended lower on Tuesday as the dollar strengthened against a basket of major currencies and stocks gained ground on the view that Democratic US presidential candidate Hillary Clinton got the better of Republican rival Donald Trump in their first debate, denting the safe-haven appeal of bullion and bonds. Yellow metal prices further declined due to a surge in US consumer confidence. According to a report from the New York-based Conference Board, the US consumer confidence index jumped to 104.1 in September from an upwardly revised 101.8 in August.

Gold futures for December delivery declined $13.70 or 1 percent to settle at $1,330.40 an ounce on the Comex division of the New York Mercantile Exchange. While, spot gold was down 0.8 percent to $1,327.46 an ounce.


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