Gold falls as U.S. dollar strengthens
Oct 11, 2022
Chicago [US], October 11: Gold futures on the COMEX division of the New York Mercantile Exchange fell on Monday as the U.S. dollar index strengthened.
The most active gold contract for December delivery fell 34.1 U.S. dollars, or 1.99 percent, to close at 1,675.2 dollars per ounce.
Traders are waiting for the September U.S. consumer price index due out on Thursday. Investors fear that the data may increase the pressure on the Federal Reserve to continue hiking interest rates aggressively, likely another 75 basis point rate hike at the central bank's November meeting.
Silver for December delivery fell 64 cents, or 3.16 percent, to close at 19.615 dollars per ounce. Platinum for January delivery fell 22.1 dollars, or 2.41 percent, to close at 895.8 dollars per ounce.
Source: Xinhua
