Gold futures traded slightly lower today as fears have been calmed after Japan’s nuclear crisis is under control. Investors are more willing to move away from the safe haven investment and back to the U.S. Dollar, giving the greenback a slight boost in the U.S. trading session.
The price of gold generally tends to have an inverse relationship with the U.S. Dollar, meaning that as gold prices rise, the value of the Dollar declines. Gold futures for June delivery hit a day high of USD1,432.95 an ounce. Spot gold prices came down from yesterday’s four-day high of USD1,434.63 and is currently trading at USD1,426.15.