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Gold declines again amid stronger dollar
Last Updated: 2018-12-12 10:45 | Xinhua
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Gold futures on the COMEX division of the New York Mercantile Exchange closed lower again on Tuesday as the U.S. dollar strengthened further.

The most active gold contract for February 2019 delivery was down 2.20 U.S. dollars, or 0.18 percent, to settle at 1,247.20 dollars per ounce.

The uncertainty surrounding Brexit has triggered the fall of British pound and pushed up the U.S. dollar.

The U.S. dollar index, a gauge of the greenback against a basket of other major currencies, rose 0.22 percent to 97.41 as of 1812 GMT.

The dollar and gold usually move in opposite directions. When the dollar rises, gold futures will fall, as dollar-priced gold becomes expensive for investors holding other currencies.

Meanwhile, reports that a high-level telephone call between Chinese and U.S. officials on forthcoming trade talks encouraged world markets.

According to a statement released Tuesday by the Chinese Commerce Ministry, officials from China and the United States, in the call, exchanged views on the timetable and roadmap to push forward the trade talks.

The Dow Jones Industrial Average recovered from early losses and posted moderate gains. The rise of equities put additional pressure on gold, a safe haven asset.

As for other precious metals, silver for March 2019 delivery went up 2.3 cents, or 0.16 percent, to close at 14.628 dollars per ounce. Platinum for January delivery was up 3.4 dollars, or 0.43 percent, to settle at 785.50 dollars per ounce. Enditem

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