CHICAGO, July 27 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange closed lower on Friday, as the precious metal found few catalysts to climb out of a recent downtrend.
The most active gold contract for August delivery went down 2.7 dollars, or 0.22 percent, to close at 1,223 dollars per ounce.
A measure of greenback's strength, the U.S. dollar index has gained 0.2 percent this week.
Gold usually moves in opposite directions with the U.S. dollar, which means if the dollar goes up, gold futures will fall as gold, priced in U.S. dollar, becomes more expensive for investors using other currencies.
As for other precious metals, silver for September delivery went down 0.2 cent, or 0.01 percent, to settle at 15.493 dollars per ounce. Platinum for October fell 4 dollars, or 0.48 percent, to close at 831.7 dollars per ounce. Enditem
