Please try another search
Investing.com - Gold futures were hovering near more than one-month lows on Friday, still weighed by Thursday's report showing that the number of people who filed for unemployment assistance in the U.S. last week fell to the lowest level since February 2006.
On the Comex division of the New York Mercantile Exchange, gold for August delivery traded at $1,293.20 a troy ounce during European afternoon trade, adding 0.19%.
The August contract settled 1.07% lower on Thursday to end at $1,290.8 a troy ounce.
Gold futures were likely to find support at $1,376.20 an ounce, the low from June 19 and resistance at $1,311.80, the high from July 23.
The U.S. Department of Labor reported on Thursday that the number of individuals filing for initial jobless benefits in the week ending July 19 declined by 19,000 to 284,000, from the previous week’s total of 303,000.
Analysts had expected jobless claims to rise by 5,000 to 308,000 last week.
The data fuelled speculation over the timing of a possible rate hike by the Federal Reserve.
Traders also continued to monitor developments in Ukraine and the Middle East.
Pro-Russian rebels shot down two Ukrainian fighter jets on Wednesday, not far from where the Malaysian Airlines passenger plane was brought down in eastern Ukraine late last week. Separately, Ukrainian Prime Minister Arseniy Yatsenyuk announced his resignation on Thursday following turmoil in the government.
Elsewhere on the Comex, silver for September delivery rose 0.31% to trade at $20.483 a troy ounce, while copper for September delivery dipped 0.04% to trade at $3.265 a pound.
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.