Gold falls as US dollar strengthens

F.P. Report

CHICAGO: Gold futures on the COMEX division of the New York Mercantile Exchange fell on Saturday as the US dollar strengthened.

The most active gold contract for June delivery fell 8.80 US dollars, or 0.44 percent, to close at 2,007.00 dollars per ounce.

In an audience discussion at the Richmond Association for Business Economics on Monday, Richmond Fed President Tom Barkin said that he wants to see more evidence that US inflation is settling back to the Federal Reserve’s 2 percent target, and that he’s reassured by stability in the banking sector. (APP)