Gold ends higher Thursday, shrugs off earlier weakness as the dollar pulls back

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Gold prices finish modestly higher on Thursday, after struggling for direction, as day after minutes of the Federal Reserve’s May meeting signaled a willingness by the central bank to potentially pause its course of rate hikes later this year, should economic data weaken. Gold for June delivery GC00, +0.49% GCM22, +0.49% added just 0.1%, or $1.30, to settle at $1,847.60 an ounce on Comex. The precious metals has been edging higher since its close at a recent low around $1,808.20 on May 13, according to FactSet data. The yellow metal continued its climb Thursday as the dollar, as measured against a basket of rival currencies edged lower. A stronger dollar makes commodities priced in the unit more expensive to users of other currencies.

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

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