Dollar Index: Percent and Gold Contract

dollar index: Low volume and no major economic news was the feature of the day as hold was given slight support as the US Dow Jones Industrial Average fell by 14 points, or 0.08 percent as of 1815 GMT. Analysts note that when equities post losses, the precious metal usually goes up, as investors are looking for a safe haven, while the opposite is true when US equities post gains, according to Global Times China. The precious metal was kept from rising any further as the US Dollar Index rose by 0.44 percent to 98.76 as of 1815 GMT. The index is a measure of the dollar against a basket of major currencies. The most active gold contract for December delivery rose 0.2 US dollars, or 0.02 percent, to settle at 1,267.70 dollars per ounce. Gold and the dollar typically move in opposite directions, which means if the dollar goes up, gold futures will fall as gold, measured by the dollar, becomes more expensive for investors. The consumer confidence report and Richmond Fed Manufacturing Index is due Tuesday, the international trade in goods report and new home sales report is due on Wednesday, the durable goods orders and weekly jobless claims report is due on Thursday, and the gross domestic product report is due on Friday. Traders appear to be waiting for next week economic data and Fed speeches, as the PMI Manufacturing Index Flash is due on Monday, along with several Fed speeches. (news.financializer.com). As reported in the news.