Gold prices close lower after the rise of the dollar

Gold prices closed lower on Wednesday, with economic data expected to be released as the dollar index continued to gain.

At the settlement, gold futures for December delivery fell by 1.5% or the equivalent of 28.9 dollars to 1890.9 dollars per ounce, the lowest settlement since February 24 last.

While the dollar index, which measures the performance of the US currency against a basket of six major currencies, rose by 0.5% at 106.78 points.