Metals Stocks: Gold prices turn higher, look to extend last year’s gains

Gold futures traded solidly higher after a volatile start to 2017, with prices looking to add to last year’s rise despite from upbeat data on U.S. manufacturing, a rise in global stocks and strength in the U.S. dollar.

Gold for February delivery GCG7, +0.92% tacked on $8.60, or 0.8%, at $1,160.30 an ounce. Prices for the yellow metal managed to trade higher even as the dollar, as measured via the ICE U.S. Dollar Index DXY, +0.82%surged to a more than 14-year high above 103.80.

A stronger dollar tends to weigh on assets priced in the currency, making them more expensive to buyers using other monetary units.

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