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Gold futures rise ahead of Fed rates decision meeting

Source: Xinhua| 2018-09-25 04:33:37|Editor: huaxia
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CHICAGO, Sept. 24 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose slightly, as investors awaited U.S. Federal Reserve's momentary policy meeting this week.

The most active gold contract for December delivery was up 3.1 U.S. dollars, or 0.26 percent, to close at 1,204.4 dollars per ounce.

The U.S. dollar index, which measures the greenback against six rivals, went down 0.01 percent to 94.21 as of 1755 GMT.

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

As for other precious metals, silver for December delivery fell 1.8 cents, or 0.13 percent, to settle at 14.341 dollars per ounce. Platinum for October went down 0.3 dollar, or 0.04 percent, to close at 829.3 dollars per ounce. Enditem

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