Gold News & Info

Source: Marketwatch

New York— old ended moderately higher Thursday as lingering worries about the shape of the economy and Greece's debt woes overshadowed a rising dollar and weak physical demand. Gold for June delivery, the most active contract, rose 70 cents, or 0.06%, to $1,160.30 an ounce in the Comex division of the New York Mercantile Exchange. The contract traded as low as $1,150.70 an ounce earlier in the session, as stronger dollar and the absence of physical interest were at work to clip more substantial gains. Investors buying gold on its appeal as alternative to currencies played a role in the switching directions, analysts said.

"It's very difficult to make a call on gold today, but some speculators are hedging themselves from currency risk," said Andrey Kryuchenkov, an analyst at VTB Capital in London. Greece fears may be largely absent from the headlines Thursday, but its problems are far from dormant, he added. Greece may have agreed to start talks on an eventual bailout package, but hasn't actually said it will take the money, Kryuchenkov said. See full story.