By Claudia Assis, MarketWatch
SAN FRANCISCO (MarketWatch) — Gold futures inched lower Thursday, wavering between small gains and losses in early trading and struggling to trade in the black after two days of gains.
Gold for August delivery GC1Q +0.13% declined $1.20, or 0.1%, to $1,509.50 an ounce on the Comex division of the New York Mercantile Exchange.
So far this month, gold has declined about 1.6%. It gained roughly 1% in the last two sessions.
Gold gained 0.7% in the previous session as commodities in general caught a lift from heightened hopes for the global economy after Greece took the first step towards another tranche of financial aid and approved an austerity plan.
Other metals were outperforming gold on Wednesday, as revived optimism about the economy joined better-than-expected May pending home sales reported in the U.S to push copper and silver higher.
The metals extended their gains on Thursday. Silver for September delivery SI1U +0.72% added 11 cents, or 0.4%, to $34.87 an ounce. September copper HG1U +0.83% advanced 3 cents, or 0.7%, to $4.25 a pound.
