Gold ends higher as dollar pulls back

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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 GC00, -0.59% GCQ22, -0.59% 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 DXY, +0.40% falling 0.3%.

This article was originally published by Marketwatch.com. Read the original article here.

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