Gold prices were rising Thursday as the dollar resumed its downward slide against the euro and yen on the back of strong economic data out of Germany and news of weaker U.S. factory orders.

Benchmark gold futures were up $11.60 at $946.60 an ounce in recent action on the Comex division of the New York Mercantile Exchange. The price of gold and the value of the U.S currency tend to move in opposite directions over time.

The streetTracks Gold Shares ( GLD - Get Report), which holds bars of gold in secure vaults, was up 0.6% in recent trading. StreetTracks Gold Shares is now up about 31% so far this year.

In currencies, one euro was buying $1.572, up from $1.5595 a day earlier. One dollar was buying 99.12 Japanese yen, down from 100.2 yen previously.

Elsewhere in the foreign-exchange market, the British pound was declining in value against the dollar, with one pound fetching $1.996, down from $1.9998. The Canadian dollar slipped to C$1.0132 from C$1.0164.

The currency exchange-traded funds were moving in line with action in the foreign-exchange market. The CurrencyShares Euro Trust ( FXE - Get Report) and the CurrencyShares Japanese Yen Trust ( FXY - Get Report) were both up about 1.2%.

The CurrencyShares British Pound Sterling ( FXB) was steady.

In the precious metals patch, the rising gold price was lifting the mining stocks, with Goldcorp ( GG) up 1.8% and Gold Star Resources ( GSS - Get Report) better by 1.4%.

Newmont Mining ( NEM - Get Report) was ahead by 1.2%, and Harmony Gold Mining ( HMY) was tacking on 2.1%.