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英语文摘:Gold slips on profit taking, strong dollar

Source:  Onion  2010-09-16   English BBS   Favorite  

CHICAGO, Sept. 15 (Xinhua) -- Gold futures on the COMEX Division of the New York Mercantile Exchange ended moderately lower on Wednesday, as sharp range up move in gold on Tuesday prompted investors to take profits. The firmer U.S. dollar also added downward pressure on gold. Silver posted a fresh 30-month high, platinum also extended gains.

The most active gold contract for December delivery trimmed 3 dollars, or 0.2 percent, to finish at 1,268.7 dollars per ounce.

Dollar moved up sharply after Japanese government decided to intervene in currency markets by selling the yen against the dollar after yen rose to a 15-year high against dollar on Tuesday.

The strong rally in dollar has eroded gold's appeal as an alternative investment by making it more expensive for holders of other currencies. And the weakening crude oil price, along with higher U.S. equity markets both contributed to put pressure on the bullion.

Gold hits all-time high in the previous session and also finished at a record settlement, which encouraged some short-term investors to cash in some of their recent gains.

Although gold halted the rally temporarily, silver continued to advance, hitting a fresh 30-month high, after Federal Reserve data showed on Wednesday that U.S. industrial output rose 0.2 percent in August, which marked the 14 consecutive month of industrial output growth.

December silver climbed 13.9 cents, or 0.7 percent, to 20.571 dollars per ounce. October platinum climbed 10.9 dollars, or 0.7 percent, to 1,605.3 dollars per ounce.


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