(RTTNews) - The price of gold was moving higher Thursday morning after falling nearly three percent in the previous session.
Gold for December delivery, the most actively traded contract, gained $21.00 to $1,838.60 an ounce. Yesterday, gold dived near $1,800 as risk appetite improved after a German court cleared the way for a rescue package for Greece that eased concerns over the European sovereign debt crisis.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, were unchanged at 1,232.31 tons.
Meanwhile, the U.S. dollar was ticking higher against a basket of currencies as U.S. President Barrack Obama is expected to announce job creation measures totaling $300 billion, later today.
In economic news, Bank of England held its key interest rate steady at 0.50 percent and quantitative easing at GBP 200 billion.
The European Central Bank is due to release monetary policy statement at 7.45 a.m. ET. Economists expect the central bank to hold the rate steady at 1.50 percent.
Elsewhere, the prices of silver and platinum were moving higher in morning deals.
From the U.S., the Labor Department will release its report on weekly jobless claims at 8.30 a.m ET. Economists expect the claims to edge down to 408,000 from 409,000 in the previous week.
Simultaneously, the Commerce Department will release its trade balance data for July. Economists estimate that the trade deficit narrowed to $51.00 billion from a deficit of $53.07 billion in the previous month.
