US Gold Fell Back

Comex gold futures made a brief excursion above $430 an ounce early Thursday but found buying interest lacking while the U.S. dollar remains within its recent range and so gold prices wilted back below $430 by the close, Dow Jones reported.

The most active June gold contract settled 80 cents lower at $428.40 an ounce.

Gold's early strength stemmed from the U.S. dollar's initial downturn to four-day lows against the euro, which spurred fund and local buying in dollar-alternatives such as gold.

However, once June prices scaled the $430 level, very little aggressive
follow-through buying emerged.