CHICAGO, Sept. 22 - Gold futures on the COMEX Division of the New York Mercantile Exchange rallied for first session in four on Tuesday as dollar plunged to a new one-year low. Silver and platinum both rose, too.
Gold price for December delivery climbed 10.60 U.S. dollars, or1.1 percent, to finish at 1,010.50 dollars an ounce. Earlier in the session, the contract topped 1,020 dollars, touching as high as 1,021.50.
Ahead of the Federal Open Market Committee's two-day meeting and the Pittsburgh G20 summit, dollar sharply went down as investors turned to risk appetites for more profits. The Federal Reserve is widely expected to keep its key interest rate unchanged at the record low of zero to 0.25 percent.
The dollar index, a gauge measuring the greenback's value against six other major currencies, hit a new one-year low of 76.003, standing at 76.133 by the end of gold floor trading time. The rate against euro broke past 1.48 dollars for the first time since September 2008. Dollar's sharp decline raised gold's hedge appeal.
The crude oil, which bounced from Monday's plunge, gave additional support to the precious metal.
December silver finished at 17.115 dollars per ounce, up 23.5 cents. October platinum rose 17 dollars to 1,339.20 dollars an ounce.
Gold price for December delivery climbed 10.60 U.S. dollars, or1.1 percent, to finish at 1,010.50 dollars an ounce. Earlier in the session, the contract topped 1,020 dollars, touching as high as 1,021.50.
Ahead of the Federal Open Market Committee's two-day meeting and the Pittsburgh G20 summit, dollar sharply went down as investors turned to risk appetites for more profits. The Federal Reserve is widely expected to keep its key interest rate unchanged at the record low of zero to 0.25 percent.
The dollar index, a gauge measuring the greenback's value against six other major currencies, hit a new one-year low of 76.003, standing at 76.133 by the end of gold floor trading time. The rate against euro broke past 1.48 dollars for the first time since September 2008. Dollar's sharp decline raised gold's hedge appeal.
The crude oil, which bounced from Monday's plunge, gave additional support to the precious metal.
December silver finished at 17.115 dollars per ounce, up 23.5 cents. October platinum rose 17 dollars to 1,339.20 dollars an ounce.
