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 [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 briefly turning negative after giving up significant earlier gains. The ICE U.S. Dollar Index ,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.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
