Daily Gold Update

Source: Marketwatch

New York— Gold futures finished slightly higher on Thursday, with renewed uncertainty over aid to Greece leading some to seek the precious metal's safe haven. The resulting slump in the euro gave strength to the dollar, however, and capped gold's advance. Copper and other metals futures, meanwhile, fell. Gold for April delivery ended up $3.30, or 0.3%, at $1,127.50 an ounce at the New York Mercantile Exchange. It earlier rose to a high of $1,129.50 an ounce, up from a settlement of $1,124.20 in the prior session.

The SPRD Gold Trust, the largest exchange-traded fund backed by gold rose 0.7%. Holdings in the trust remained for the fifth session at 1,115.51 metric tons. "Today, you have the U.S. dollar strengthening against other currencies, including the euro," which is usually bearish for gold, said Anne-Laure Tremblay, a precious metals analyst with BNP Paribas in London. But "we may see greater interest in gold motivated by its 'safe haven' appeal," as a result of fiscal issues in Greece, Tremblay added. Doubts about the euro zone's aid plan for the debt-strapped Greek government resurfaced amid talk that Greece might resort to help from the International Monetary Fund. See full story.