CHICAGO, Sept. 16 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Wednesday as traders positioned themselves ahead of the U.S. Federal Reserve's statement due after the market's close.
The most active gold contract for December delivery rose 4.3 U.S. dollars, or 0.22 percent, to close at 1,970.5 dollars per ounce.
The Federal Reserve's statement after the market close was just as market expectations, which indicates that the Fed plans to keep key interest rates near zero through 2023 to help U.S. economy. Gold continued to rise in electronic trade after the release of the statement.
Gold found additional support in a report released by the U.S. government.
The Department of Commerce report showed that the retail sales increased by 0.6 percent in August, worse than expected. The figure is also lower than in July, showing a slowdown of growth.
Rising stock market indexes worldwide and a stronger dollar capped gold's growth.
Silver for December delivery rose 1.2 cents, or 0.04 percent, to close at 27.476 dollars per ounce. Platinum for October delivery fell 8.7 dollars, or 0.89 percent, to close at 973.5 dollars per ounce.
About CHINA MINING
China Mining Conference and Exhibition (CHINA MINING) is officially supported by Ministry of Natural Resources China. Since first held in 1999, CHINA MINING has become one of the world’s top mining events and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including survey and evaluation, exploration and mining, techniques and equipment, investment and finance, trade and services, etc., playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.
China Mining Conference and Exhibition 2020 will be held IN Tianjin China on October 22-24, 2020. We invite you to join the event and to celebrate the 22nd anniversary of CHINA MINING with us. For more information about CHINA MINING, please visit: www.chinaminingtj.org.