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Gold ends higher Thursday, shrugs off earlier weakness as the dollar pulls back

39901 gold ends higher thursday shrugs off earlier weakness as the dollar pulls back

Gold prices finish modestly higher on Thursday, after struggling for direction, as day after minutes of the Federal Reserve’s May meeting signaled a willingness by the central bank to potentially pause its course of rate hikes later this year, should economic data weaken. Gold for June delivery GC00, +0.09% GCM22, +0.09% added just 0.1%, or $1.30, to settle at $1,847.60 an ounce on Comex. The precious metals has been edging higher since its close at a recent low around $1,808.20 on May 13, according to FactSet data. The yellow metal continued its climb Thursday as the dollar, as measured against a basket of rival currencies edged lower. A stronger dollar makes commodities priced in the unit more expensive to users of other currencies.

Source: Marketwatch

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