Investor Alert

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

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

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 (NYM:GC00) [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 (DOW:DJIA) briefly turning negative after giving up significant earlier gains. The ICE U.S. Dollar Index (IFUS:DXY) ,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.

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