Gold traded lower mid-afternoon on Thursday, moving down even as the dollar weakened following an unexpected jump in U.S. initial jobless claims last week.
Gold for February delivery was last seen down US$28.10 to US$2,648.10 per ounce.
The U.S. Department of Labor reported 224,000 initial jobless claims were made last week, above the consensus estimate and prior week level of 215,000, according to Marketwatch. The results follows on a weaker than expected rise in private sector employment in November, with the ADP Employment Report released Wednesday showing a rise of 146,000 positions, under expectations for 163,000 jobs.
The U.S. November employment report will be released early on Friday, with a rise of 214,000 new jobs expected, up from just 12,000 a month earlier.
The dollar fell following the data, with the ICE dollar index last seen down 0.35 points to 105.97.
Treasury yields rose, with the U.S. two-year note last seen paying 4.171%, up 3.3 basis points, while the yield on the 10-year note was up 1.1 basis points to 4.192%
Source : MT Newswires
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