Gold falls after US jobless claims data | latest news


Gold fell on Thursday after a decline in weekly US jobless claims, ahead of the release of monthly jobs data this week, boosted the yield on US bonds

Treasury Speculation has increased that the Federal Reserve (the US central bank) may soon begin reducing economic stimulus.

By 1130 (1530 GMT) spot gold fell 0.3 percent to $1757.85 an ounce, and US gold futures rose 0.1 percent to $1759.80 an ounce.

The number of new jobless claims fell last week.

The dollar fell slightly from its highest levels in a year, supported by inflation concerns and expectations that the Federal Reserve will take urgent action towards normalizing politics, which also prevented the rise of gold.

A rising dollar makes gold less attractive to holders of other currencies.

As for other precious metals, silver rose in spot trading 0.2 percent to $22.64 an ounce, platinum rose 0.9 percent to $992.99, and palladium jumped 5.1 percent to $ 1985.03, heading towards its highest level since September 22.





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