Gold retreats on firmer dollar

On Thursday, Gold slipped as the U.S. dollar strengthened against other currencies.

The press release is quoted as saying:

Spot gold was at $1,122.27 an ounce by 0621 GMT (2:21 a.m. ET), down $1.78 from New York’s notional close on Wednesday, when it hit a 1-week high at $1,132.80 on early gains in the euro before falling sharply after the release of U.S. producer prices data. Gold was still trading above the 50 and 100-day moving averages but it has lost about 2 percent in value since rallying to a 6- week high near $1,150 in early March.

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