Gold futures gained Thursday; however, the rise was modest
Gold futures gained Thursday; however, the rise was modest, Dow Jones reports.
Comex April gold settled up 50 cents to $443.40 per ounce on a day when it fluctuated on both sides of unchanged.
"The dollar was bouncing around quite a bit," said one trader. "When the dollar strengthened, gold came off. And when the dollar weakened again - especially against the euro - the gold went back up."
April gold had traded down to $440.70 overnight. A couple of traders cited
liquidation and profit-taking pressure, particularly as the euro gave back some
of its recent gains.