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Gold retreats from one-month high
Last Updated: 2013-01-24 04:13 | Xinhua
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Gold futures on the COMEX division of the New York Mercantile Exchange fell from the one-month high level on a stronger dollar Wednesday.

The most active gold contract for February delivery fell 6.5 dollars, or 0.38 percent, to settle at 1,686.7 dollars per ounce.

Gold has given back all its gains on the previous session and more.

Dollar went strong Wednesday, exerting some pressure on dollar- denominated commodities. The dollar index, a measurement of the greenback against a basket of major currencies, came to 79.939, up from 79.892 on Tuesday.

The U.S. House's approval of a short-term debt-limit extension has also dampened gold. The U.S. House on Wednesday approved a suspension of the debt ceiling until May 19, allowing the government to continue to pay its bills.

Silver for March delivery gained 26.2 cents, or 0.81 percent, to close at 32.439 dollars per ounce. Platinum for April delivery lost 6.7 dollars, or 0.39 percent, to close at 1,691.8 dollars per ounce.

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