Gold futures in New York stumbled to a lower close on Wednesday as the dollar was triggered higher by news that the May U.S. trade deficit was narrower than anticipated, Dow Jones reported.
August gold settled $2.50 lower at $424.60 on the Comex division of the NYMEX.
In early morning trade, gold felt the tug as the dollar rallied on news that
the U.S. trade deficit for May was $55.3 billion, lower than an expected gap of
$57 billion.
The news sent the euro below its key $1.21 level Wednesday.
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Strong Dollar Triggers Gold Decline
Gold futures in New York stumbled to a lower close
