SINGAPORE: Gold lost its footing on Thursday after the US dollar jumped against other currencies, but euro zone debt jitters could limit losses as investors fretted about the lack of resolution to solve the crisis in Greece.
Spot gold fell $2.66 an ounce to $1,527.19 an ounce by 0030 GMT after rising for a second straight session to around $1,533 on Wednesday on declines in equity markets. Gold is well below a lifetime high around $1,575 touched in early May.
Silver lost 24 cents to $35.53 an ounce, below a record at $49.51 an ounce in April.
The dollar held at three-week highs against a basket of major currencies in Asia on Thursday, having staged its biggest rally in 10 months on a wave of short covering as concerns over Greece's debt crisis hammered the euro.
Copyright Reuters, 2011
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