News Column

Gold Inches Up Ahead Of US Jobless Claims

July 17, 2014

WASHINGTON (Alliance News) - Gold prices are higher Thursday morning, with traders looking ahead to reports on US housing and jobless claims.

The safe haven of the precious metal was boosted due to weakness in global equity markets and the ongoing conflicts in Ukraine and Iraq.

Gold futures for August delivery are up USD3.50 or 0.27% at USD1,303.30 an ounce.

On Wednesday, gold futures ended up USD2.70 or 0.2% at USD1,299.60 an ounce, bouncing back from a four-week low.

Silver for September is up USD0.035 or 0.17% at USD20.810 an ounce. Meanwhile, copper is down USD0.009 or 0.29% at USD3.205 per pound.

The US Labor Department will release its jobless claims report for the week ended July 13th at 8:30 am ET.

Also due for release around the same time is the US Commerce Department's report on housing starts for June.

At 10 am ET, the Philadelphia Federal Reserve is due to release the results of its regional manufacturing survey at 10 am ET.

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Source: Alliance News

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