Gold Futures Settle 1.1% Higher As Dollar Drops Versus Yen

By Markets MarketWatch Pulse

Gold futures ended solidly higher Thursday, boosted by the dollar's slump versus the Japanese yen a day after the Federal Reserve further signaled it's taking a cautious approach to further rate increases. Gold for June delivery on Comex rose $13.70, or 1.1%, to end at $1,236.20 an ounce. A weaker dollar is typically seen as supportive for commodities priced in the currency, as it makes them less expensive to users of other currencies. Yen strength is also seen as a sign investors are shunning risky assets, boosting demand for assets, such as gold, that are perceived as havens.

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