Dollar Declined, Sending Gold To Week's High

US gold futures showed gains Wednesday amid a stronger euro aganist the US dollar , traders and analysts said.

June gold jumped $2.10 to $421.90 an ounce, the highest level since last Thursday, after trading from $418.80 to $422 on the New York Mercantile Exchange's Comex division.

Gold gained as the euro got as high as $1.269 on Wednesday afternoon, compared to $1.2607 late Tuesday.

The US currency declined after the U.S. government reported U.S. core inflation was weaker than expected in April, leading investors to view the Federal Reserve as less likely to implement aggressive interest rate hikes.