Xinhua, Chicago :
Gold futures on the COMEX division of the New York Mercantile Exchange fell further on Thursday, as U.S. equities rallied and the dollar climbed.
The most active gold contract for December delivery was down 12.20 U.S. dollars to close at 1,536.90 dollars per ounce.
The Dow Jones Industrial Average gained more than 300 points on Thursday.
The S&P 500 and Nasdaq also followed Dow’s sharp rise.
When the stock market stages a sharp rally, investors are usually lured to risky assets from safe-haven gold.
Additional pressure came from a stronger dollar. The U.S. dollar index, a gauge of the greenback against a basket of other major currencies, was up 0.29 percent to 98.50 prior to gold’s settlement.
When the dollar strengthens, the dollar-priced gold usually falls as it becomes more expensive for investors holding other currencies.
As for other precious metals, silver for December delivery was down 13.3 cents, or 0.72 percent to close at 18.323 dollars per ounce. Platinum for October delivery was up 11.10 dollars, or 1.22 percent, to settle at 920.00 dollars per ounce.
