Gold prices pushed to near 1-week low on firmer dollar

Gold price has dropped a near one-week low on Thursday, weighed down by a stronger dollar and as growing hopes of an economic recovery bolstered risk appetite.

Spot gold was down 0.7% to $1,928.86 per ounce, having earlier fallen to $1,926.99.

U.S. gold futures dipped 0.5% to $1,934.40.

“In the near term, gold may remain in a wide range with support around $1,910 and resistance around $1,985.” according to analysts.