Gold Deepens Losses with Gains in Stocks, Dollar

Gold prices continued their losses during Thursday's trading session, following an uptick in the stock market and the dollar price.

The yellow metal has come under pressure as the US dollar benefited from economic data showing a sharp decline in US Initial jobless claims, as well as exceeding expectations for housing construction.

At the beginning of today's session, gold was troubled by the gains of US stock indexes on the back of strong business outcomes.

The US Secretary of Treasury Steven Mnuchin gave investors hope of resolving the current trade crisis with China.

News reports also revealed that the US plans to delay the increase in tariffs on vehicles for an additional 6 months in order to restrain trade tensions.

The price of gold futures for June delivery lost $ 5, falling about 0.3 percent at $ 1293.30 per ounce. The spot delivery also fell to record similar estimates.

Finally, the dollar index, which measures the performance of the currency against six other major currencies, climbed 0.1 percent to settle at 97.698.

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