Gold Extends Losses As U.S. Dollar Rebounds

By Markets MarketWatch Pulse

Gold futures extended losses to settle lower Wednesday as a rebound in the U.S. dollar pressured the precious metal. The greenback had earlier slid on weak employment data but has recovered to edge higher. The private sector added 156,000 jobs in April, according to Automatic Data Processing Inc., missing the 193,000 projected by economists. A stronger buck works against metals denominated in the dollar as it makes them more expensive. June gold fell $17.40, or 1.4% to settle at 1,274.40.

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