Daily Gold Update

Source: Marketwatch

San Francisco— Gold futures climbed Thursday morning as weakness in the U.S. dollar helped to boost investment demand for the metal, lifting prices past $1,460 an ounce. Gold for June delivery added $8.40, or 0.6%, to $1,464 an ounce on the Comex division of the New York Mercantile Exchange. �For the time being, the traditional inverse relationship between the dollar and bullion is back in play with the prospect of wider [U.S./European Union rate differentials set to provide further upside momentum to gold and silver,� analysts at TheBullionDesk.com said in a note to clients.

The dollar index, which measures the greenback against a basket of six currencies, traded at 74.886 after earlier dipping as low as 74.617, its lowest level since December 2009. The index was down slightly from 74.966 in late North American trading Wednesday. Both gold and silver �are remaining firm due to concerns about the U.S. dollar, the euro and sovereign debt issues in Europe,� analysts at GoldCore said in an email to clients Thursday. And �while markets are not focusing on geopolitical risk in Africa and the Middle East and the Japanese natural and nuclear disasters, these problems remain and will lead to continuing safe haven demand,� they said. See full story.