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May 12, 2022, 1:46 p.m. EDT

Gold books worst daily fall Thursday in about a week

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By Joy Wiltermuth

DXY

Gold futures finished sharply lower on Thursday as a surging dollar pushed higher on inflation concerns. June gold shed about 1.6%, or $29.10, ending at $1,824.60 an once on Comex. That was the biggest daily percentage decrease for the most-active gold contract since May 2, according to FactSet data. The precious metal came under further pressure from a strong greenback as with the ICE US Dollar index /zigman2/quotes/210598269/delayed DXY -0.27% , a measure of the currency against a basket of six major rivals, jumped 0.9%, near a 20-year high. While inflation levels may have shown recent signs of a peak, a surge remains in place, with wholesale prices slowing to 11% in April over the past year from 11.5%, according to government data.

/zigman2/quotes/210598269/delayed
US : U.S.: ICE Futures U.S.
106.81
-0.29 -0.27%
Volume: 0.00
July 7, 2022 5:44a
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