Gold remained higher in afternoon trading on Thursday, buoyed by forecast-missing US jobs data and a dovish tone in the minutes from the previous FOMC meeting. Spot gold was last at $1,163/1,163.80 per ounce, up $5.60 on Thursday’s close but back from an intraday high of $1,167.80 following the US data. Weekly jobless claims at 297,000 – missing consensus of 274,000 – were the highest number of individuals filing for unemployment in more than four months. This back pegged back the dollar slightly, allowing gold to move to session highs, though the greenback has since returned to positive ground at 1.1039 against the euro. Still, unless gold gains on Friday it will remain on track for its third straight week of losses. Silver’s rebound was much smarter – the metal moved gained 37 cents or around 2.5 percent to $15.42/15.47 per ounce, having flirted with six-year lows earlier in the week. Still, support for gold and silver today reflects last night’s Fed minutes, which failed to provide a clearer picture on when the normalisation of US monetary policy might begin. In the June FOMC meeting minutes, officials were clearly concerned with the situation in Greece and growth concerns in China but also said that they need more evidence of a strengthening US economy before raising rates. The PGMs were down again and look susceptible to testing recent lows should sentiment remain sour. Platinum was last down $5 at $1,021/1,026 per ounce, having hit a February 2009 low earlier this week at $1,010. Palladium was down $12 – or two percent – at $638/643, having matched the June 2013 low earlier this week at $630. All commodities have also been lifted slightly today following a pause in the rout in the Chinese equity market. The Shanghai Composite closed up around six percent this morning and European and US major indices are in positive territory. - See more at: http://www.bulliondesk.com/gold-news/bullion-latest-gold-price-gets-boost-from-worst-us-jobless-claims-4-mths-97533/#sthash.LeRhCjZu.dpuf

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