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May 10, 2022, 1:47 p.m. EDT

Gold futures end lower Tuesday, adding to skid as dollar surges

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By Joy Wiltermuth

Gold futures finished lower Tuesday, as the U.S. dollar's surge to its highest in two decades took a bite out of prices for the yellow metal. Gold for June delivery /zigman2/quotes/210034565/delayed GC00 -2.09% [s:GCM22] shed $17.60, or 0.9%, settling at $1,841 an ounce on Comex, a day after the most-active contract booked its lowest settlement value since February 15, according to Dow Jones Market Data. Stocks were volatile again Tuesday, with the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.42% briefly turning negative after giving up significant earlier gains. The ICE U.S. Dollar Index /zigman2/quotes/210598269/delayed DXY +1.30% ,a measure of the currency against a basket of six major rivals, was up 0.3%, near the 20-year high set in early trade Monday. Acute market jitters about a potential U.S. economic slowdown have added strength the dollar as a safe-haven. But a robust dollar also is a negative for commodities priced in the unit, making them more expensive to users of other currencies.

US : U.S.: Nymex
$ 1,763.80
-37.70 -2.09%
Volume: 293,094
July 5, 2022 4:59p
US : Dow Jones Global
-129.44 -0.42%
Volume: 328.20M
July 5, 2022 5:04p
US : U.S.: ICE Futures U.S.
+1.37 +1.30%
Volume: 0.00
July 5, 2022 5:54p

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