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15-Sep2018

Gold futures end lower with firm dollar

Gold futures ended lower on Friday, driven by the firm dollar which rose against a basket of currencies, including the yuan, followed by the report that President Donald Trump directed aides to place tariffs on about $200 billion of Chinese goods. Meanwhile, investors' anticipation of another interest rate increase by Fed reserve also weighed on the yellow metal. Higher rates make gold less attractive since it does not pay interest but costs money to store and insure.

Gold futures for December delivery settled down $7.10, or 0.6 percent, at $1,201.10 per ounce, on the Comex division of the New York Mercantile. While, spot gold lost 0.5 percent at $1,195.21 ounce.



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