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Gold futures rise on safe-haven buying
Last Updated: 2019-01-03 10:26 | Xinhua
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Gold futures on the COMEX division of the New York Mercantile Exchange rose on Wednesday, the first business day of 2019, amid volatility in the U.S. stock market.

The most active gold contract for February delivery was up 2.80 U.S. dollars, or 0.22 percent, to settle at 1284.10 dollars per ounce.

The Dow Jones Industrial Average saw ups and downs Wednesday, and S&P 500, Nasdaq Composite Index followed Dow's volatility. Analysts said that sell-off in stock market sparked safe-haven buying, which pushed up gold futures.

As a partial government shutdown continued in the United States, gold got additional support from the political uncertainty.

The U.S. dollar index, a gauge of the greenback against a basket of other major currencies, rose 0.92 percent to 96.91 as of 1822 GMT. However, a stronger dollar failed to drag down gold prices.

As for other precious metals, silver for March delivery went up 10.9 cents, or 0.7 percent, to close at 15.649 dollars per ounce. Platinum for April delivery was up 3.4 dollars, or 0.42 percent, to settle at 804.00 dollars per ounce. Enditem

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