GOLD SHORT STORIES Silver stocks hit new all-time highs Thursday, thanks to a strong U.S. dollar and weaker global inflation.
Gold rose 0.6% to $1,068.57 an ounce.
That was the biggest gain since mid-December and nearly one-third higher than last week’s $1.20 per ounce.
The S&P 500 index of the S&P 500 was up 1.6%.
The U.K. pound, which has been trading near $1 a pound for weeks, rebounded after a record low.
Sterling’s slump followed a surprise devaluation of the pound in April and June.
Gold and silver are also up this week amid hopes that the Federal Reserve will raise interest rates this year.
The dollar rose to 113.15 per dollar, its highest level in five months, while the euro edged up to $2.17 per euro against the dollar.
It traded around 93.5 cents against the yen.
U.N. inflation data released Wednesday showed that average annual inflation fell in June to 1.8%, the lowest rate since March 2011.
The Fed has signaled that it will raise rates in early 2019.
Gold futures rose more than 1% to settle at $1.,054.50 an ounce, while silver fell 0.4% to end at $15.18 per ounce, its lowest level since mid January.
The dollar advanced to 106.98 yen, its biggest gain against the greenback since mid February.
Gold rose 1.2% to US$1,082.25 an ounce after falling 1.3% in early trading.
The Dow Jones Industrial Average rose 16.75 points, or 0.8%.
The Nasdaq Composite index of private companies fell 12.23 points,or 0.9%.