• Sun. Apr 14th, 2024

Gold ends higher as dollar pulls back


Jul 13, 2022 , ,
Boeing stock jumps nearly 8% after maker's commercial-jet deliveries rise more than 50% in Q2

Gold futures finished higher Wednesday, reversing an earlier loss as the U.S. dollar pulled back from gains seen after a hotter-than-expected reading for the June consumer price index. August gold


rose $10.70, or 0.6%, to close at $1,735.50 an ounce. Gold weakened in early activity after the CPI jump sparked a further gain for the dollar — a stronger U.S. currency can be a headwind for commodities priced in the unit, making them more expensive to users of other currencies. The dollar, however, later pulled back, with the ICE U.S. Dollar Index

falling 0.3%.

Image and article originally from www.marketwatch.com. Read the original article here.