Gold rises on weaker U.S. dollar
CHICAGO, Sept. 14 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Tuesday as the U.S. dollar weakened.
The most active gold contract for December delivery rose 12.7 U.S. dollars, or 0.71 percent, to close at 1,807.1 dollars per ounce.
U.S. Department of Labor reported on Tuesday that U.S. consumer prices index rose 0.3 percent in August, the slowest pace of price rises since January, which resulted in the aforementioned weaker U.S. dollar.
With the indicator of inflation coming below market expectations, the pressure on the Federal Reserve to start tapering may ease somewhat, market analysts hold.
Nevertheless, the National Federation of Independent Business Small Business Optimism Index increased in August to 100.1, up 0.4 point from July, capping gold's growth to certain degree.
Silver for December delivery rose 8.9 cents, or 0.37 percent, to close at 23.885 dollars per ounce. Platinum for October delivery fell 18.8 dollars, or 1.96 percent, to close at 938.7 dollars per ounce. Enditem