Gold futures edged lower early Thursday, retreating from the one-week high notched a day earlier, but the contract remained confined to the tight trading range seen over the last several sessions, as U.S. stocks drifted higher and the dollar stabilized.
June gold GCM8, -0.26% fell $2.80, or 0.2%, to $1,350.70 an ounce. It settled Wednesday at $1,353.50, the highest since April 11, according to FactSet data.
Gold has been rangebound between $1,310 and $1,360 so far this year, absent catalysts that, according to analysts, might include a spike in inflation or a more-aggressive Federal Reserve response with higher interest rates, factors that would be expected to lift the dollar and depress gold prices.
