Gold Futures Settle Slightly Lower As Dollar Rises

Trading 04 avr 2019 Donner votre avis

Gold prices edged lower on Thursday as the dollar gained some ground in positive territory after data showed a drop in initial jobless claims.

However, the yellow metal's fall was just marginal as global stocks were mostly lackluster due to worries about global growth and continued uncertainty about Brexit.

The dollar index gained over 0.2% to 97.31.

Gold futures for June ended down $1.00, or nearly 0.1% down at $1,294.30 an ounce.

On Wednesday, gold futures ended down $0.10, at $1,295.30 an ounce.

Silver futures for May ended down $0.018, at $15.084 an ounce, while Copper futures for May settled at $2.9100 per pound, losing $0.0385.

According to the report released by the Labor Department today, first-time claims for U.S. unemployment benefits unexpectedly decreased in the week ended March 30th.

The report said initial jobless claims dipped to 202,000, a decrease of 10,000 from the previous week's revised level of 212,000.

Economists had expected jobless claims to inch up to 216,000 from the 211,000 originally reported for the previous week.

With the unexpected decrease, initial jobless claims fell to their lowest level since hitting a matching number in December of 1969.

A report on payrolls, wages, and joblessness for the month of March tomorrow.

U.S. employment is expected to jump by 180,000 jobs in March after inching up by just 20,000 jobs in February. The unemployment rate is expected to hold at 3.8%.

On trade talks front, U.S. President Donald Trump is scheduled to meet Chinese Vice Premier Liu He later in the day. It is expected that Trump may announce plans for a summit with Chinese President Xi Jinping after the meeting.

Earlier in the day, Trump tweeted that talks with China were moving along nicely.

On Brexit, British lawmakers on Wednesday approved a bill to seek a Brexit delay to prevent Britain from crashing out of EU without a deal.

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