Gold Inched Up Slightly After its Sharp Drop

Gold futures closed above their worst levels Thursday, but still ended the session at a six-week low with traders using strength in the U.S. dollar as an excuse to continue to lock in recent gains.

Gold for August delivery finished down $15.50 at $633.50 an ounce on the New York Mercantile Exchange -- its weakest closing level since April 24. It fell as low as $625.70 early in the day, a level not seen since April 20.

On Wednesday, the contract tumbled down $12.