The dollar hit a near three-month low level following the release of economic data, Reuters added.
U.S. retail sales for April were unchanged, suggesting the economy struggled to rebound after a weak first quarter, Reuters reports.
Spot gold hit a one-month high level of $1,218 an ounce following the release of disappointing U.S. data, and was last trading at $1,214.10 an ounce as of 2:42 p.m. ET today.
U.S. gold futures for June delivery settled at $1,218.20 an ounce, its highest level since early April, and was trading up 1.83% to $1,214.20 an ounce as of 2:32 p.m. ET.
Canada-based Eldorado Gold is an exploration-stage, a discovery-stage, a development-stage, a production-stage and a reclamation-stage mining company with its primary focus on gold, iron ore and silver-lead-zinc mines.
Separately, TheStreet Ratings team rates ELDORADO GOLD CORP as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate ELDORADO GOLD CORP (EGO) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally disappointing historical performance in the stock itself and unimpressive growth in net income."