(RTTNews) - Snapping its two-day upsurge, the price of gold edged down Thursday morning amid a stronger dollar.
Gold for June delivery was down $6.0 to $1,142.80 an ounce, after advancing to nearly $1,150 in early morning deals. Gold recovered over 2% in the past two sessions after dipping to a low of around $1,124 intraday Monday.
Meanwhile, the U.S. dollar was surging closer to its highest level in a year against the euro, after Greece reported a wider-than-expected budget deficit. Eurostat said Thursday that the Greek budget deficit jumped to 13.6% of its GDP in 2009, as against the government's projection of 12.7%. The greenback was also ticking higher against the British pound in morning deals.
Elsewhere, the price of silver edged down, while platinum continued to hover around its 2-year high in morning deals.
Traders will look to data on weekly jobless claims, producer price index, existing home sales and house price index from the U.S, scheduled for release later today, to get clues on the economic recovery and in turn the currency movements.
