Gold futures extend gains

6 September, 2019 12:00 AM printer

CHICAGO: Gold futures on the COMEX division of the New York Mercantile Exchange rose on Wednesday, as the precious metal was boosted by economic worries and weakness in the U.S. dollar.

The most active gold contract for December delivery was up 4.5 U.S.  dollars, or 0.29 percent, to close at 1,560.4 dollars per ounce, reports Xinhua.

The U.S. dollar index, which measures the buck against six rivals, went down 0.51 percent to 98.5 as of 1730 GMT.

Gold usually moves in opposite directions with the U.S. dollar, which means if the dollar goes strong, gold futures will fall as gold, priced in U.S.  dollar, becomes expensive for investors using other currencies.