Xinhua, Chicago :
Gold futures on the COMEX division of the New York Mercantile Exchange fell on Friday as the U.S. dollar strengthened.
The most active gold contract for February delivery fell 7.9 U.S. dollars, or 0.67 percent, to settle at 1,173.40 dollars per ounce.
Gold was put under pressure as the U.S. Dollar Index rose by 0.84 percent to 102.25 as of 1845 GMT. The index is a measure of the dollar against a basket of major currencies.
The precious metal was put under further pressure as the U.S. Dow Jones Industrial Average rose by 79.61 points, or 0.4 percent as of 1845 GMT. Analysts note that when equities post losses, the precious metal usually goes up, as investors are looking for a safe haven, while the opposite is true when U.S. equities post gains.
Gold futures on the COMEX division of the New York Mercantile Exchange fell on Friday as the U.S. dollar strengthened.
The most active gold contract for February delivery fell 7.9 U.S. dollars, or 0.67 percent, to settle at 1,173.40 dollars per ounce.
Gold was put under pressure as the U.S. Dollar Index rose by 0.84 percent to 102.25 as of 1845 GMT. The index is a measure of the dollar against a basket of major currencies.
The precious metal was put under further pressure as the U.S. Dow Jones Industrial Average rose by 79.61 points, or 0.4 percent as of 1845 GMT. Analysts note that when equities post losses, the precious metal usually goes up, as investors are looking for a safe haven, while the opposite is true when U.S. equities post gains.
