U.S. gold futures climbed in light trade Thursday morning before an early close due to the Christmas Eve
U.S. gold futures climbed in light trade Thursday morning before an early close due to the Christmas Eve on Friday, as the euro reached a record high against the US dollar amid split results in several U.S. economic reports.
By 9:59 a.m., February delivery gold at the New York Mercantile Exchange's COMEX division rose $1.10 to $442.50 an ounce, moving from $440.80 to $444.
The euro shot to an all-time high around $1.3483 in light trading conditions, from $1.3460 earlier.
A trader said a dose of dealer selling seemed to spook the market and prevented the yellow metal from capitalizing further on the euro's breakout higher.
Gold tends to rise on a weaker dollar as the dollar-denominated metal gets cheaper for holders of other currencies.