Gold falls as U.S. dollar strengthens

Chicago [US], October 15: Gold futures on the COMEX division of the New York Mercantile Exchange fell on Friday as the U.S. dollar strengthened.
The most active gold contract for December delivery fell 28.1 U.S. dollars, or 1.68 percent, to close at 1,648.9 dollars per ounce.
Gold fell 3.5 percent for the week.
The U.S. Commerce Department reported Friday that U.S. retail sales remained unchanged in September, down from a revised 0.4-percent growth in August, as households cut back on purchases of motor vehicles and other big-ticket items like electronics and appliances amid stubbornly high inflation and rapidly rising interest rates.
The preliminary reading of the University of Michigan consumer sentiment index released Friday came in at 59.8 in October, up from 58.6 in September. But the consumers' expectations for inflation over the next year rose to 5.1 percent from September's one-year low of 4.7 percent.
Silver for December delivery fell 84.7 cents, or 4.48 percent, to close at 18.071 dollars per ounce. Platinum for January delivery fell 1.5 dollars, or 0.17 percent, to close at 894.9 dollars per ounce.
Source: Xinhua