Dow Up, Nasdaq Down... Dollar Rise Weakens Gold

[Image source=Reuters Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] The New York stock market closed mixed. Gold, which had been on a strong run, closed lower.

On the 7th (local time), the Dow Jones Industrial Average rose 46.50 points (0.17%) to close at 27,433.48, the S&P 500 index increased by 2.12 points (0.06%) to 3,351.28, and the Nasdaq index fell 97.09 points (0.87%) to close at 11,010.98.

The weekly gains were 3.8% for the Dow, 2.45% for the S&P 500, and 2.47% for the Nasdaq.

International gold prices ended their record-breaking streak of all-time highs. December delivery gold closed at $2,028 per ounce, down 2% ($41.40) from the previous day.

Gold prices fell for the first time in six trading days, which is attributed to the dollar index, showing the value of the dollar against major currencies, rising 0.8% intraday on strong demand.

September delivery West Texas Intermediate (WTI) crude oil closed at $41.22 per barrel, down 1.7% ($0.73).

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