: Gold futures decline but hold ground above $2,000 at the settlement

Gold futures declined on Wednesday, giving up nearly all of what they gained a day earlier but settling above the key $2,000 mark. Analysts attributed the price loss to strength in the U.S. dollar as investors weigh the prospects for further interest-rate hikes ahead of the Federal Reserve’s policy meeting in early May. Gold for June delivery GCM23 fell $12.40, or 0.6%, to settle at $2,007.30 an ounce on Comex after posting a gain of 0.6%, or $12.70, on Tuesday, FactSet data show. Prices for the metal held close to the settlement level after the Fed’s Beige Book showed the U.S. economy was “little changed” in late March and early April. In electronic trading, June gold was at $2,007.10.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.