Gold eases from one-week high as stocks, dollar churn

Thursday, 19 April 2018 18:41 WIB



Gold futures eased slightly Thursday from the one-week highs notched a day earlier, but the contract remained confined to the tight trading range seen over the last several sessions, as U.S. stocks drifted higher and the dollar stabilized.

June gold  fell $2.80, or 0.2%, to $1,350.70 an ounce. It settled Wednesday at $1,353.50, the highest since April 11, according to FactSet data.

Gold has been rangebound between $1,310 and $1,360 so far this year absent catalysts that, according to analysts, might include a spike in inflation or a more-aggressive Federal Reserve response with higher interest rates, factors that would be expected to lift the dollar and depress gold prices.

Early Thursday, the ICE U.S. Dollar Index was barely moved at 89.64.

As for other metals trading, silver's moves of late have been more pronounced. May silver slipped about 0.2% to $17.215 an ounce Thursday after putting on a 2.8% surge in the previous session.

Source : Marketwatch


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