Gold rises on weak U.S. dollar-Xinhua

Gold rises on weak U.S. dollar

Source: Xinhua| 2023-09-19 02:39:00|Editor:

CHICAGO, Sept. 18 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Monday as the U.S. dollar weakened.

The most active gold contract for December delivery rose 7.20 U.S. dollars, or 0.37 percent, to close at 1,953.40 dollars per ounce.

Gold is stuck in a tight trading range as investors wait for the result of the two-day Federal Open Market Committee meeting which will close on Wednesday with an announcement after the market's close.

The National Association of Home Builders/Wells Fargo Housing Market Index reported Monday that U.S. builder confidence for newly built single-family homes fell five points to 45 in September, following a six-point drop in August.

Silver for December delivery rose 11.20 cents, or 0.48 percent, to close at 23.498 dollars per ounce. Platinum for October delivery rose 8.80 dollars, or 0.95 percent, to close at 938.30 dollars per ounce.