Metals Stocks: Gold pulls back from March high to edge back below $1,300 an ounce

Gold futures were under pressure Thursday, pulling back below the $1,300-an-ounce level as the U.S. dollar regained its footing and investors appeared to shrug off political turmoil in the U.K. surrounding the country’s preparations for exiting from the European Union.

Gold for April delivery GCJ9, -1.08% on Comex fell $11, or 0.8%, to $1,298.30 an ounce, while May silver SIK9, -1.40% dropped 18.6 cents, or 1.2%, to $15.27 an ounce.

“Participants on the gold market appear jaded by the Brexit issue and fed up with the whole business. Gold built upon its gains yesterday, the weaker U.S.

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