Xinhua, Chicago :
Gold futures on the COMEX division of the New York Mercantile Exchange settled higher on Thursday amid political uncertainty following the impeachment against U.S. President Donald Trump.
The most active gold contract for February delivery rose 5.7 U.S. dollars, or 0.39 percent, to close at 1,484.40 dollars per ounce.
The Democrat-led U.S. House of Representatives voted on Wednesday night to pass two articles of impeachment against Trump, who has become the third president in U.S. history to be formally impeached and will face a trial in the Republican-controlled Senate.
Political uncertainty surrounding the impeachment process triggered safe-haven appeal among investors, despite the rally in New York stock market, said market analysts.
The Dow Jones Industrial Average gained some 100 points on Thursday. The S&P 500 and Nasdaq Composite Index followed Dow’s rise.
A slight downside correction in U.S. dollar index offered additional support for gold.
The U.S. dollar index, a gauge of the greenback against a basket of other major currencies, fell 0.06 percent to 97.34 shortly before gold’s settlement. This will make dollar-priced gold less expensive for investors holding other currencies.
As for other precious metals, silver for March delivery was up 10.5 cents, or 0.62 percent, to close at 17.154 dollars per ounce. Platinum for January delivery went down 0.2 dollar, or 0.02 percent, to settle at 935.50 dollars per ounce.
China’s benchmark interbank gold prices lower Friday:
China’s benchmark prices for spot interbank gold transactions were lower Friday, according to the China Foreign Exchange Trade System.
The benchmark price for gold of 99.95 percent pure or above stood at 333.48 yuan (about 47.63 U.S. dollars) per gram, 0.37 yuan lower from the previous trading day, and that for gold of 99.99 percent pure or above was 0.73 yuan lower at 333.52 yuan per gram.
Spot transaction prices on the interbank price inquiry market are allowed to rise or fall within 15 percent from the benchmark prices each trading day.
The interbank gold price inquiry business was introduced in 2012 to enhance market liquidity and enrich trading models.
Gold price opens higher in Hong Kong :
The gold price in Hong Kong went up 35 Hong Kong dollars to open at 13,760 dollars (about 1,764.10 U.S. dollars) per tael on Friday, according to the Chinese Gold and Silver Exchange Society. (1 U.S. dollar equals 7.80 HK dollars)
Gold futures on the COMEX division of the New York Mercantile Exchange settled higher on Thursday amid political uncertainty following the impeachment against U.S. President Donald Trump.
The most active gold contract for February delivery rose 5.7 U.S. dollars, or 0.39 percent, to close at 1,484.40 dollars per ounce.
The Democrat-led U.S. House of Representatives voted on Wednesday night to pass two articles of impeachment against Trump, who has become the third president in U.S. history to be formally impeached and will face a trial in the Republican-controlled Senate.
Political uncertainty surrounding the impeachment process triggered safe-haven appeal among investors, despite the rally in New York stock market, said market analysts.
The Dow Jones Industrial Average gained some 100 points on Thursday. The S&P 500 and Nasdaq Composite Index followed Dow’s rise.
A slight downside correction in U.S. dollar index offered additional support for gold.
The U.S. dollar index, a gauge of the greenback against a basket of other major currencies, fell 0.06 percent to 97.34 shortly before gold’s settlement. This will make dollar-priced gold less expensive for investors holding other currencies.
As for other precious metals, silver for March delivery was up 10.5 cents, or 0.62 percent, to close at 17.154 dollars per ounce. Platinum for January delivery went down 0.2 dollar, or 0.02 percent, to settle at 935.50 dollars per ounce.
China’s benchmark interbank gold prices lower Friday:
China’s benchmark prices for spot interbank gold transactions were lower Friday, according to the China Foreign Exchange Trade System.
The benchmark price for gold of 99.95 percent pure or above stood at 333.48 yuan (about 47.63 U.S. dollars) per gram, 0.37 yuan lower from the previous trading day, and that for gold of 99.99 percent pure or above was 0.73 yuan lower at 333.52 yuan per gram.
Spot transaction prices on the interbank price inquiry market are allowed to rise or fall within 15 percent from the benchmark prices each trading day.
The interbank gold price inquiry business was introduced in 2012 to enhance market liquidity and enrich trading models.
Gold price opens higher in Hong Kong :
The gold price in Hong Kong went up 35 Hong Kong dollars to open at 13,760 dollars (about 1,764.10 U.S. dollars) per tael on Friday, according to the Chinese Gold and Silver Exchange Society. (1 U.S. dollar equals 7.80 HK dollars)
