Gold saw a modest gain on Thursday, to mark its highest finish in a still-young June, as a popular gauge of the dollar's strength declined and boosted the short-term allure of the metal.
August gold tacked on $1.60, or 0.1%, to settle at $1,303 an ounce. That was the highest finish for a most-active contract since May 31, according to FactSet data. The ICE U.S. Dollar Index fell 0.3% at 93.39, declining by 0.6% week to date. Spot gold rose 0.1 percent to $1,297.20 an ounce by 2:17 p.m. ET, earlier hitting a one-week high, $1,303.08.
On the economic front, initial jobless claims fell slightly in early June, keeping the rate of layoffs in the U.S. near a 50-year low. The report largely backed up market expectations that the Federal Reserve will nudge key interest rates higher when it meets next week and perhaps signal its intention then to keep tightening rates later this year.