SAN FRANCISCO (MarketWatch) -- Gold futures climbed Thursday morning as a $2 loss in the previous session and a weaker U.S. dollar spurred fresh interest in the yellow metal.
With slightly higher action in gold, the dollar weakening and "the oil markets fanning the flames of uncertainty, it seems as if gold has effectively shifted its track away from the downside," said Nell Sloane, an analyst at NSFutures.com in daily commentary.
Gold for December delivery climbed $1.50 to $4432.70 an ounce on the New York Mercantile Exchange.
At last check, the dollar lost ground against both the Japanese yen and the euro. See Currencies.
"The dollar has been hammered vs. the euro this week but the precious metals are marching to a different drummer so far," said Dale Doelling, chief market technician at Trends In Commodities.
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