Dollar Mixed in U.S.; Gold Edges Up

The dollar turned mixed in U.S. trading Thursday after losing ground against most other major currencies in European activity.

The slumping British pound, meanwhile, steadied against the dollar in the United States. Gold prices mostly edged higher, although Republic National Bank in New York quoted gold at $407.25 an ounce.

Earlier this month, the dollar had advanced on the heels of government reports that indicated the U.S. economy might be picking up steam. But dealers’ guarded optimism about the economic outlook began to fade this week, replaced by renewed concerns that the next batch of government figures would show continued weakness in the economy.

There were expectations in the currency markets that a report on U.S. retail sales for October, to be released today, would show a decline of up to 5% because of lower auto sales. Reports on October industrial production and wholesale prices also will be released.