Gold prices closed higher Thursday, supported again by a weaker dollar.
Gold for February delivery swung between small gains and losses and closed up 0.5%, at $1,362.40 a troy ounce, on the Comex division of the New York Mercantile Exchange. Prices have risen to their highest level since August 2016 recently, with the dollar hitting fresh multiyear lows amid international trade concerns. A weaker dollar makes gold and other commodities denominated in the U.S. currency cheaper for overseas buyers.
The WSJ Dollar Index, which tracks the dollar against a basket of 16 other currencies, shed 0.5% before later paring those losses.
Read more via Metals: Gold Closes Higher With Dollar Falling – WSJ