Gold ends down 1% on dollar

23.04.2015 / 02:48

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Gold closed lower on Wednesday, on selling pressure as the dollar pared some losses after euro zone data disappointed, while the absence of major developments in the Greek crisis left investors cautious.

U.S. gold futures for June delivery settled down $16.20, or 1.3 percent, at $1,186.90 an ounce. Spot gold, meanwhile, dropped 1.3 percent to $1,186 an ounce.

The dollar, lower initially, pared losses to trade little changed versus a basket of major currencies, mostly on euro losses after a disappointing euro zone consumer confidence report for April.

Investors were monitoring the situation in Greece, which is quickly running out of cash. It pledged to its euro zone partners in February that by the end of April it would agree with creditors on a comprehensive list of reforms to get 7.2 billion euros remaining from its bailout.

But no package will be ready by Friday, when euro zone ministers are to meet in Riga.

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Gold ends down 1% on dollar

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