Dollar Recovers, Gold Pulls Back From Highs

Gold prices retreated from their five-month highs on Thursday as the U.S. dollar clawed back some of the ground it lost after President Donald Trump said the U.S. currency was too strong.

The metal stayed on track for its best week since June, however, as concerns over tensions in North Korea and the Middle East kept stock markets under pressure.

Spot gold was fairly flat at $1,286.42 U.S. an ounce, while U.S. gold futures for June delivery were up $10.40 to settle at $1,288.50 U.S.

Geopolitical fears, in particular, of a new weapons test by North Korea, worked their way into the picture, as a U.S. carrier group sailed towards the region. Worries about the forthcoming French presidential election also kept investors on edge.

Among other precious metals, silver advanced 0.1% at $18.48 U.S.. Platinum was 0.1%t lower at $967.95 U.S., while palladium fell 0.3% to $794.72 U.S.

Related Stories