Gold rose on Thursday as the dollar fell versus a basket of currencies, with rebounding stock markets and U.S. jobless figures showing a decline in continuing claims boosting appetite for assets seen as higher risk.
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Gold futures have shed over 4% so far today in what MarkeWatch is calling “a broad-based commodities sell-off.”
According to the site, “gold for June delivery tumbled $41.80, or 4.5%, to $879.70 an ounce on the New York Mercantile Exchange. Other metals futures were also sharply lower, with platinum selling off 7%.”