Gold futures closed down on Monday after oil prices reclined from earlier records levels while the U.S. dollar gained against the euro, eroding the appeal of the precious metal as an alternative investment.
Gold futures rose above $930 an ounce on Friday to the highest price in a month as crude oil hit a record high and the U.S. dollar continued to weaken, boosting the investment appeal of the precious metal as a hedge against inflation.
Gold futures surged the most in two years as weakness in the U.S. dollar boosted the investment appeal for the precious metal, causing prices to lift nearly 4 percent.
Gold futures gained in electronic trading on Wednesday afternoon in New York, after ending lower at the close of trade when the Federal Reserve announced its decision to keep interest rates steady as inflation concerns rise.
Gold futures edged lower on Friday but managed to close the week with a gain of almost 4 percent as oil prices continued to soar and weakness in the U.S. dollar boosted the demand for a hedge against inflation.
Gold futures rose on Wednesday on speculation that a slumping U.S. economy will prevent the Federal Reserve from lowering interest rates, while soaring oil prices and a weaker dollar boosted the demand for the precious metal.
Gold futures closed with modest gains on Tuesday on speculation a weak dollar and soaring energy cost will boost the demand for the precious metal while another round of weak U.S. data boosted concerns about economic growth.
Gold futures rebounded on Monday and closed with strong gains after the U.S. dollar declined, boosting the investment appeal of the precious metal.
Gold gained on Friday, erasing earlier losses on speculation that higher food and energy prices will spur inflation, while the dollar strengthened against the euro and other major currencies, lowering the investment appeal of the precious metal.
Gold futures fell on Thursday to a five week low after the dollar rebounded, lowering the investment appeal of the precious metal.
Gold futures fell to its lowest level in three weeks on Thursday; dropping more than $21 an ounce, on speculation the U.S. will increase interest rates in order to protect the dollar which dampened the demand for the precious metal as an alternative investment.
Gold futures fell $11 an ounce on Tuesday after the Federal Reserve Chairman Ben Bernanke hinted that the Fed will not implement any further cuts to borrowing costs for now, sending the dollar higher and dampening the investment appeal of the precious metal as an alternative investment.
Gold futures tumbled as much as $28 an ounce on Thursday, the most in nearly six weeks after the dollar continued to climb, lowering the appeal of the precious metal as an alternative investment while oil prices dropped.
Gold futures fell for the second day on Wednesday in New York as the dollar strengthened, lowering the appeal of the precious metal as an alternative investment.
Gold futures closed down almost $18 an ounce on Tuesday, dropping the most in four weeks as energy costs fell and lowered the demand for the contract as a hedge against inflation.
Gold futures rose higher on Friday and recorded a third straight weekly gain of almost 3 percent as weakness in the U.S. dollar a and surging energy costs boosted the demand for the precious metal as a hedge against inflation.
Gold futures ended sharply lower on Thursday, down from a one-month high as the dollar rose against other major currencies and crude oil dropped from a record, eroding the appeal of the precious metal as a hedge against inflation.
Gold futures rose to the highest level in almost three weeks on Monday as surging energy costs boosted demand for the precious metal as a hedge against inflation.
Gold futures closed near $900 an ounce on Friday in New York, making it the highest gain for the contract in 10 weeks as energy costs surged to a record and the dollar weakened, boosting the appeal of the precious metal as a hedge against inflation.
Gold futures closed with gains for the first time this week on speculation that higher energy costs and a weaker dollar will boost demand for the precious metal as a hedge against inflation.
Gold fell the most in two weeks on Tuesday as the U.S. dollar rebounded against the euro, hindering the investment demand for the precious metal.
Gold futures ended with strong gains on Thursday as record energy costs and weakness in the U.S. dollar boosted the demand for a hedge against inflation.
