Gold extends losses on stronger US dollar

Gold futures on the COMEX division of the New York Mercantile Exchange extended losses on Wednesday and settled at the lowest price in a month as US dollar turned higher.

The most active gold contract for December delivery lost $19.00, or 1.69 percent, to settle at $1,102.00 dollars per ounce, Xinhua reported.

The price was the lowest settlement since August 7.

The US dollar ended higher on Wednesday, weighing down gold futures as gold was measured by the dollar.

The rally of European stocks and Asia market also lured the investors away from gold, analysts said.

On Wednesday, FTSE 100 Index, benchmark of London Stock Exchange, increased 1.35 percent, the CAC 40 Index gained 1.44 percent, while US stocks also opened higher.

Silver for December delivery gave up 17.90 cents, or 1.21 percent, to close at 14.576 dollars per ounce. Platinum for October delivery lost 21.70 dollars, or 2.16 percent, to close at 981.20 dollars per ounce.