San Francisco market : Thursday gold futures have lost more than $5 an ounce, as U.S. dollar recovered by optimistic economic data, what has drawn investors? interest off precious metals.
For the gold, appreciation in the dollar against the major currencies is always unfavorable. Gold for June delivery, which traded at an intraday low of $387, closed down $5.40 at $388.40 an ounce on the New York Mercantile Exchange.
Earlier, the Bank of England lifted its key interest rate by a quarter of a percentage point, citing concern over the potential for inflation due to the momentum in the global economy as well as in the U.K.
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Dollar Recovering, Gold Price Falling
For the gold, appreciation in the dollar against the major currencies is always unfavorable
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