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Gold falls as U.S. dollar rises
Last Updated: 2019-02-12 10:09 | Xinhua
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Gold futures on the COMEX division of the New York Mercantile Exchange ended lower on Monday, as the U.S. dollar strengthened.

The most active gold contract for April delivery was down 6.6 dollars, or 0.5 percent, to settle at 1,311.90 dollars per ounce.

The U.S. dollar index, a gauge of the greenback against a basket of other major currencies, climbed above 97 on Monday.

Gold and the dollar typically move in opposite directions. If the dollar goes up, gold futures will fall as gold, measured by the dollar, becomes more expensive for investors holding other currencies.

Meanwhile, the Dow Jones Industrial Average fell moderately over growth concerns, while S&P 500 and Nasdaq index managed to stay in the positive territory, indicating that major U.S. benchmarks struggled for direction.

As for other precious metals, silver for March delivery went down 11.9 cents, or 0.75 percent, to close at 15.69 dollars per ounce. Platinum for April delivery was down 15.90 dollars, or 1.98 percent, to settle at 786.60 dollars per ounce.

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