CHICAGO, Jan. 19 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange closed higher on Friday over risks of a U.S. government shutdown.
The most active gold contract for February delivery rose 5.9 dollars, or 0.44 percent, to close at 1333.10 dollars per ounce.
News from Washington said that White House was preparing for a possible government shutdown, as the chances of a short-term government funding bill passed by the Senate seemed dimmed.
The last U.S. government shutdown happened in 2013 and President Donald Trump is still trying to negotiate with Democrats in a bid to avoid it on the first anniversary since taking office.
The risks of such a government shutdown pushed up gold futures, which had seen a sharp decline in the previous session.
The precious metal was given additional support as the U.S. Dow Jones Industrial Average fell by 54.49 points, or 0.21 percent as of 1827 GMT. Analysts note that when equities post losses, the precious metal usually goes up, as investors are looking for a safe haven.
However, the U.S. dollar index, a gauge of the greenback against a basket of other major currencies, rose 0.14 percent to 90.61 as of 1816 GMT, curbing the rise of gold.
As for other precious metals, silver for March delivery climbed 8.2 cents, or 0.48 percent, to settle at 17.036 dollars per ounce. Platinum for April rose 12.9 dollars, or 1.28 percent, to close at 1,020.10 dollars per ounce.
