US Gold Ends Up on Pre-Holiday Buying, Weak Dollar

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U.S. gold futures finished just $2 higher on Thursday, despite the dollar's slide against the euro, as investors covered shorts and added to their long positions ahead of a long holiday weekend.

U.S. gold futures finished just $2 higher on Thursday, despite the dollar's slide against the euro, as investors covered shorts and added to their long positions ahead of a long holiday weekend.

Most-active gold futures for June delivery on the COMEX division of the New York Mercantile Exchange settled up $2.00 at $679.50 an ounce, traded in a tight range between $676.60 and $681.00.

On Wednesday, the June contract surged more than 1 percent to a five-week high on the back of technical-based and options-related buying, despite Iran's freeing of 15 British sailors which defused an international crisis and reduced the precious metal's appeal as a safe-haven investment.

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