Gold prices dropped Thursday to mark their lowest settlement of the year. The ICE U.S. Dollar Index pared much of its earlier climb, but held ground around its highest level in six weeks, continuing to pressure prices for dollar-denominated gold. On Thursday, Federal Reserve Chairman Jerome Powell made cautionary remarks about inflation, leading the dollar to pare some of its gains, but the Fed chief on Tuesday had suggested a more aggressive monetary policy, which boosted the greenback. April gold lost $12.70, or 1%, to settle at $1,305.20 an ounce. That was the lowest finish since Dec. 28, according to FactSet data.
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