CHICAGO, April 27 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Friday following a two-day decline over a stronger dollar.
The most active gold contract for June delivery went up 5.50 dollars, or 0.42 percent, to settle at 1323.40 dollars per ounce.
The yield on the benchmark 10-year U.S. Treasury fell from above the three-percent level earlier this week to around 2.96 percent. Falling Treasury yields usually tend to push demand for the precious metal.
Meanwhile, the U.S. dollar index, a measure of the dollar against a basket of other major currencies, could hardly remain in the positive territory on Friday.
Gold and the dollar typically move in opposite directions. When the dollar fails to sustain its momentum, it will boost the appeal for dollar-priced gold, especially to investors using other currencies.
Although gold posted moderate gains on Friday, it still saw a weekly drop of 1.1 percent.
As for other precious metals, silver for July delivery fell 7 cents, or 0.42 percent, to settle at 16.497 dollars per ounce. Platinum for July went up 6.3 dollars, or 0.69 percent, to close at 916.40 dollars per ounce. Enditem
