Gold Dips From 2-Month High As Dollar Regains

Gold Dips From 2-Month High As Dollar Regains

04 May 2021 10:34 AM

Gold prices slipped from a more than two-month high today due to an uptick in the dollar, although weaker-than-expected U.S. economic data stoked worries over recovery and limited losses for the safe-haven metal.

Spot gold was down 0.2% at $1,788.89 per ounce, after touching its highest since Feb. 25 at $1,797.75 yesterday.

U.S. gold futures dropped 0.1% to $1,789.40 per ounce.

The dollar index climbed 0.2% against its rivals, making gold less attractive for other currency holders.

Palladium climbed 0.2% to $2,977.63 per ounce, after scaling an all-time high of $3,007.73 per ounce on Friday.

Silver was down 0.5% at $26.74 per ounce, after hitting its highest since March 1 on Monday, while platinum climbed 0.1% to $1,231.46.