Daily Gold Update

Source: Marketwatch

San Francisco— Gold futures rose more than $6 an ounce Thursday, to close at their highest level in five weeks, as the dollar touched new lows against the euro and the British pound and as oil prices remained high. These factors combined to underpin investment demand for the precious metal.

Gold for August delivery gained $6.20, or 0.9%, to close at $668.30 an ounce on the New York Mercantile Exchange. The contract tapped $671 earlier, a level not seen since June 7, after falling $2.30 an ounce on Wednesday, thus ending a three-session winning streak. See full story.