Gold futures rebound from April low

Gold futures settled higher on Thursday, recouping some of the recent losses that pushed prices to their lowest level of the month, as downbeat U.S. economic data pressured the dollar and raised prospects for investment demand.

Gold for June delivery on Comex GCM5, -0.27%  rose $7.40, or 0.6%, to settle at $1,194.30 an ounce after finishing Wednesday at their lowest level since March. May silver SIK5, -0.15%  added 3.3 cents, or 0.2%, to $15.829 an ounce.

Against that backdrop, the U.S. dollar dropped DXY, +0.21% providing support for many dollar-denominated commodities and drawing investors to the perceived safety of gold.

Traders will also be looking at the outcome of the Federal Open Market Committee meeting on April 28-29.

In other metals trade Thursday, July platinum PLN5, -0.40%  rose $7, or 0.6%, to $1,136.70 an ounce, while June palladium PAM5, -0.21%  rose $14, or 1.9%, to $769.90 an ounce.

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