MW: Oil adds to gains; gold shaves drop after data
By Anna Andrianova
NEW YORK (MarketWatch) -- Oil futures climbed further, and gold pared losses, after the U.S. government Thursday released data on jobless claims and first-quarter economic growth. Crude oil for August delivery CLQ2 +0.26% rose 53 cents, or 0.7%, to $80.78 a barrel on the New York Mercantile Exchange versus $80.38 before the reports. August gold GCQ2 -0.64% shed 40 cents, or 0.4%, to $1,571.70 an ounce versus $1,568.30 before the data. Jobless claims fell by 6,000 last week to 386,000, the Labor Department said Thursday. The Commerce Department said that the U.S. economy grew 1.9% in the first quarter; the indicator remained unchanged from the previous estimate.
