Gold futures lost their hold on the $1,300-an-ounce mark on Thursday to settle at their lowest level in more than six weeks as the dollar edged higher in the wake of better-than-expected economic data, prompting the metal to lose some of its investment appeal.
Gold for April delivery fell $8.70, or 0.7%, to settle at $1,294.70 an ounce on the Comex division of the New York Mercantile Exchange, the lowest settlement for a most-active contract since Feb. 11. It fell 0.6% on Wednesday. May silver also declined by 7 cents, or 0.4%, to $19.71 an ounce.
Gold for April delivery fell $8.70, or 0.7%, to settle at $1,294.70 an ounce on the Comex division of the New York Mercantile Exchange, the lowest settlement for a most-active contract since Feb. 11. It fell 0.6% on Wednesday. May silver also declined by 7 cents, or 0.4%, to $19.71 an ounce.