NEW YORK -- Most commodities, including gold and oil, finished higher Thursday as weakness in the dollar sent investors in search of a shelter from inflation. The dollar fell further against the euro and the British pound amid more evidence that the economy's slide is abating. This sent investors in search of assets with the potential for bigger returns, like stocks and commodities. Investors pushed prices for stocks, oil, gold, and other metals higher after the government said initial jobless claims fell last week. Another report said retail sales grew in May for the first time in three months. The increase in commodity prices, many argue, is another sign the economy is on the mend, but others warn that if prices continue their tear higher, they could impede economic growth by pushing prices higher for businesses and consumers. Analysts also warn that the big jump in commodity prices makes the market ripe for a pullback, especially if confidence in the economy and the stock market starts to fade. "Although we have been bullish on most metals for some time now, we are getting somewhat more wary about prices at these levels," wrote Edward Meir, senior commodities analyst at MF Global in New York, in a note to investors. Meir said the prices for many metals were approaching "overbought territory," and could suffer if stocks turn lower. Gold for August delivery added $7.30 to settle at $962 an ounce on the New York Mercantile Exchange. Among other metals, July silver jumped 26.8 cents to $15.4930 an ounce, while July copper futures rose 7.8 cents to $2.4450 a pound. Platinum was roughly flat, while palladium fell. Aluminum prices finished higher. Oil prices marched higher on the Nymex, hitting an eight-month high amid the upbeat economic data. Gasoline prices have been rising steadily since May, and on Thursday, hit levels not seen since last October. Meanwhile, the International Energy Agency in Paris lowered its expectations for the slump in global oil demand this year. Light, sweet crude for July delivery rose $1.35 to $72.68 a barrel. In other Nymex trading, gasoline futures rose 4.96 cents to $2.0649 a gallon, while heating oil futures gained 2.08 cents to $1.8534 a gallon. Grain prices were mostly higher on the Chicago Board of Trade, with soybeans hitting a new high for the year. Soybeans have jumped nearly 30 percent this year, largely outperforming other grains, amid a surge of buying by the Chinese and a sharp drop in supply, especially from South American countries that are usually large producers of soybeans. July soybeans finished higher for the fourth day in a row, jumping 21 cents to $12.67 a bushel. July wheat futures slipped 1.25 cents to $5.9475 a bushel, while corn for July delivery rose 5.25 cents to $4.41 a bushel.

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