Gold Rises to Near Two-Month High Despite US $ Strength Gold Rises to Near Two-Month High In Light Holiday Trade Despite Dollar Strength
08:39 AM EST, 12/24/2019 (MT Newswires) -- Gold rose to the highest since early November in light pre-holiday trade on Tuesday, even as the U.S. dollar gained strength.
Gold for February delivery was last seen up US$4.80 to US$1,493.50 per ounce in Comex trade.
The rise came despite a higher U.S. dollar; which makes the metal less affordable for international buyers, cutting into demand. The ICE dollar index was last seen up 0.04 to 97.70 points.
Stock markets in Europe and Asia were mostly steady, while futures point to a slightly higher open on U.S. markets.
BTW...Latest Comex update:As of: 12/24/19 10:37:05 am
COMEX Gold Contract (GOLDS:COM) US$1,496.14 +0.35 (0.70%)