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CHICAGO, Jan. 11 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose Wednesday to finish at the highest level in seven weeks, with the U.S. dollar taking a lower turn as comments from President-elect Donald Trump fueled uncertainty in financial markets.
The most active gold contract for February delivery rose 11.1 U.S. dollars, or 0.94 percent, to settle at 1,196.60 dollars per ounce.
U.S. stocks lost ground in choppy trading, led by drug stocks after Trump said pharmaceutical companies were "getting away with murder" by charging high drug prices.
During the news conference, Trump denied allegations that Russia is blackmailing him. He also detailed how he would handle conflicts of interests and said his adult sons would run the Trump Organization.
The U.S. Dollar Index, which tracks the currency against six rivals, turned down by 0.4 percent to 101.57 after trading close to 103 at its highest level of the day. U.S. equities saw up-and-down action after Trump spoke to reporters at his first news conference since the election.
Gold is inversely influenced by moves in the dollar, as strength in the greenback makes assets priced in the currency, including most gold on the global markets, more expensive to buyers using other monetary units.
Since the U.S. presidential election, the dollar has piled on more than 5 percent, fueled in large part by anticipation that Trump's fiscal policies could spur economic growth and stoke inflation.
Silver for March delivery fell 2 cents, or 0.12 percent, to close at 16.828 dollars per ounce. Platinum for April delivery dropped 6.4 dollars, or 0.65 percent, to close at 976.40 dollars per ounce.
