Strength in the U.S. dollar index didn’t turn front-month gold futures negative, as the contract settles up 0.3% to $2,664.50 an ounce.
That’s four out of the past six sessions that gold finished higher, even as the dollar climbs. The stronger dollar makes gold more expensive for investors in other currencies, keeping a lid on upward momentum, says Quasar Elizundia of Pepperstone in a note.
Additionally, signs that the Fed’s appetite for rate cuts is waning are keeping pressure on gold.
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