Dollar and Gold End Day Higher

The dollar ended the day higher Wednesday after seesawing on reports of sluggish economic activity and officials’ statements. Its movements were exaggerated by thin trading.

Gold prices rose. Bullion was quoted at $346 an ounce at Republic National Bank at 4 p.m. EDT, up $1.25 from Tuesday’s bid.

The dollar generally gained ground through most of the European trading day. Then two unexpectedly weak U.S. economic indicators pushed the dollar off its midday highs and the currency ended the session mixed.

According to traders in Frankfurt, West Germany, the more damaging of the two indicators was a report that the U.S. merchandise trade deficit widened to $14.52 billion in March, from a revised February deficit of $11.37 billion.

Analysts said investors were reluctant to commit themselves ahead of the weekend in view of the scheduled closure of many European markets on Thursday for the May Day holiday.