WASHINGTON (dpa-AFX) - Future prices of the yellow metal traded mostly above the flatline, amidst a subdued U.S. Dollar.
The Dollar Index, a measure of the Dollar's strength against a basket of six currencies traded between 104.14 and 104.29, versus the previous close of 104.30.
The Dollar's moves came amidst mixed economic readings from the U.S. for the month of January, released recently. While inflation readings, both at the producer level as well as at the consumer level came in hotter-than-expected, retail sales recorded the biggest decrease since March last year. The mixed data as well as some recent divergent commentary from Fed speakers clouded the outlook for the U.S. Dollar.
Gold Futures for April settlement have gained 0.19 percent to trade at $2,027.85, versus the previous close of $2,024.10. The day's trading range has been between $2,024.00 and $2,034.30.
Gold Futures had dropped below the psychological $2k level, touching a low of $1,996.40 on Wednesday in the aftermath of the hotter-than-expected consumer price inflation readings from the U.S.
Spot Gold added 0.16 percent to trade at $2,016.55 per troy ounce. The day's trading range has been between $2,013.31 and $2,023.08.
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