Gold futures close lower on profit taking


CHICAGO, Oct. 8 -- Gold futures on the COMEX division of the New York Mercantile Exchange retreated Thursday on profit taking after it closed Wednesday at its highest settlement since Sept.24.

The most active gold contract for December delivery fell 4.40 U.S. dollars, or 0.38 percent, to settle at 1,144.30 dollars per ounce.

Analysts said that gold futures retreated on a round of profit taking Thursday after it hadscored four-successive-day gain on expectations of a U.S. rate hike delay.

The strength of U.S. dollar on Thursday morning also pressed gold lower by decreasing theappeal of dollar-dominated gold, according to some analysts.

As for the other precious metals on the COMEX, silver for December delivery was lower 32.80 cents, or 2.04 percent, to close at 15.766 dollars per ounce, while platinum for January delivery gained 9.20 dollars, or 0.97 percent, to close at 955.60 dollars per ounce.


       

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