Gold closes lower as U.S. stock market rallies ahead of Thanksgiving

Gold for February delivery [s:GCG20], the most active contract on Comex, fell $6.60, or 0.4%, to end Wednesday at $1,460.80 an ounce, as buoyant demand for U.S. stocks ahead of the Thanksgiving holiday kept pressure on the precious metal. A positive tone around the U.S. economy and hopes for a partial U.S. and China trade détente have helped propel all three major stock indexes to fresh highs this week, while keeping demand for haven assets, including metals and U.S. Treasury debt, on the light side. January platinum [s:PLF20] fell 1.7% to settle at $895.40 an ounce. U.S. financial markets will be closed Thursday for Thanksgiving Day, while abbreviated trading hours will be observed on Friday.

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