Gold closes slightly higher as dollar turns lower
Gold prices rose on Thursday, as the US dollar held against most of its peers, despite the release of strong economic data.
The US Department of Labor revealed that the number of initial unemployment claims was at 376K last week from 385K, while analysts forecast 370K.
The US consumer price index rose by 0.6% in May, the largest monthly increase in 13 years, higher than forecasts of 0.4%.
The core reading (excluding food and fuel prices) rose by 0.7%, higher than forecasts of 0.5%.
The dollar index fell against a basket of major currencies by less than 0.1% to 90.07 points as of 18:42 GMT, after hitting a high of 90.3 points and a low of 89.9 points.
Gold August futures rose 0.1 or 90 cents, and closed at $1,896.4 an ounce.
Oil turns lower, US crude falls below $70
Oil prices fell on Thursday, as the US dollar steadied against most rivals, while the US crude fell below $70 a barrel once again.
The Energy Information Administration reported today that the US crude inventories fell 5.2 million barrels during the past week, while analysts forecasts a drop by 4.1 million barrels.
The dollar index rose against a basket of major currencies by 0.2% to 90.2 points as of 16:46 GMT, after hitting a high of 90.3 points and a low of 90.02 points.
Oil prices are gaining momentum near their highest levels in several years, lifted by expectations of strong global demand while the coronavirus economic impact fades.
As of 16:41 GMT, WTI crude July futures fell 0.4% to $69.6 a barrel, after hitting a high of $70.6 and a low of $68.6.
Brent August futures fell 0.4% to $71.9 a barrel, after hitting a high of $72.9 and a low of $70.9.
Copper falls on concerns over China's measures to curb prices
Copper prices fell on Friday, as the US dollar rose against most majors, amid concerns about the Chinese government's measures to curb prices.
3-month copper futures in the London Metal Exchange fell 0.6% to $9,920 per ton.
The Chinese government renewed its pledge to impose measures to curb price increases on commodities such as copper, especially as prices inflation of local producers rose to more than a 12-year peak.
The dollar index rose against a basket of major currencies by 0.2% to 90.2 points as of 13:44 GMT, after hitting a high of 90.3 points and a low of 90.02 points.
Copper July futures fell 1.3% to $4.47 per pound as of 13:36 GMT, after hitting a high of $4.53 and a low of $4.44.
US stocks open higher, S&P 500 hits new record
US stock rose on Thursday, following the release of upbeat economic data, which lifted S&P 500 to a new record high..
The US Department of Labor revealed that the number of initial unemployment claims was at 376K last week from 385K, while analysts forecast 370K.
The US consumer price index rose by 0.6% in May, the largest monthly increase in 13 years, higher than forecasts of 0.4%.
The core reading (excluding food and fuel prices) rose by 0.7%, higher than forecasts of 0.5%.
As for stocks, Dow Jones rose 0.5% or 156 points to 34,603 as of 14:19 GMT, Nasdaq rose 0.6% or 88 points to 14,000, and S&P 500 rose 0.5% or 21 points to 4,240.