MW: Gold edges higher as other metals futures fall
By Deborah Levine, MarketWatch
NEW YORK (MarketWatch) — Gold futures recovered from an earlier decline in volatile Friday trading, while metals traders eyed the dollar and stock markets for hints about how much investors are worried about the outlook for global economic growth.
Gold for August delivery GC1Q -0.07% turned up 0.1% to $1,522 an ounce
It fell as low as $1,516.20 an ounce earlier, extending a steep decline in the prior session. It also reached as high as $1,526.50 an ounce during the session.
On Thursday, gold prices dropped more than 2%. Read about Thursday’s drop in gold prices..
U.S. stock futures also erased earlier gains, as traders reassess Thursday’s late announcement of a longer-term plan to support Greece and the International Energy Agency’s release of oil reserves. Read more on gyrations in U.S. stock futures.
In other trading, silver for July delivery SI1N -0.36% fell 0.3% to $34.88 an ounce.
September palladium PA1U -0.59% dropped 1% to $736 an ounce.
July platinum PL1N 0.00% was little changed at $1,692.90 an ounce.
The dollar held small gains against the euro amid worries about Greece’s ability to rein in its debt. A stronger dollar tends to weigh on commodities priced in the U.S. currency. See story on dollar, euro.
Deborah Levine is a MarketWatch reporter, based in New York.
