Gold ends down but off 5-wk lows, eyes US data

NEW YORK/LONDON (Reuters) - Gold ended 1 percent lower on Wednesday as the dollar climbed, oil prices feel and U.S. stocks rose, denting the precious metal’s appeal.

Gold was at 918.80/920.30 by New York’s last quote at 2:15 p.m. EDT, down from $928.45/929.65 late in New York on Monday.

Gold’s decline was “pretty much forex related, and oil is coming down,” said senior Commerzbank trader Michael Kempinski. “We need to see come stronger commodities in general, and a stronger euro, to push gold higher again.”

The dollar rose to its highest level in a month against major currencies, pressuring bullion prices. Gold tends to move in the opposite direction of the U.S. currency, as it is often bought as an alternative investment.

Declining oil prices also dragged gold, as signs of weakening demand for crude and a rising dollar outweighed the supply threat linked to tensions in Iran and Nigeria. U.S. crude futures ended $2.54 lower at $122.19 a barrel