New York Gold Market: Gold close down by $ 3.5 as dollar strength depresses the market

The New York gold futures contract closed last night (8 Nov), under pressure from the strength of the dollar. And the rising US stock market Although investors are still worried about trade negotiations between the United States and China. Behind President Donald Trump states that He opposed the plan to cancel import duties from Chinese goods. Gold COMEX (Commodity Exchange) contract for December delivery. Down $ 3.5, or 0.24%, to close at 1,462.9 dollars / ounce. Silver contract for December delivery. Down 18.7 cents, or 1.1%, to close at 16.823 dollars / ounce. Platinum contract for January delivery. Fell 20.9 dollars or 2.29% to close at 893.1 dollars / ounce. Palladium contract for December delivery The dollar fell 69.20 dollars or 3.9% to close at 1,708.60 dollars / ounce. Investors pour gold as a safe asset After the stock market and the US dollar rose Which has reduced the attractiveness of gold

The dollar index, which is a measure of the movement of the dollar against 6 major currencies in the basket, rose 0.24 percent to 98.38 last night.

The stronger dollar reduced the attractiveness of gold. Because the gold contract traded in US dollars More expensive for those holding other currencies