RTTN: Gold Little Changed Near $1,230 Amid A Mixed Dollar
(RTTNews) - The price of gold was little changed Thursday morning amid mixed cues from the currency and equity markets.
Gold for December delivery, the most actively traded contract, edged down $0.40 to $1,231.00 an ounce. Yesterday, gold added $3.10 to settle at a fresh 7-week high amid concerns that the global economic recovery may falter.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, inched up for a second day to 1,295.20 tons from 1,294.60 tons, indicating the safe-haven appeal of the yellow metal remain intact.
Meanwhile, the U.S. dollar was edging higher against the euro and ticking lower versus sterling. The buck was leveling off from its lowest level since 1995 versus the yen.
Elsewhere, the prices of silver and platinum ticked higher in morning deals.
Today traders will look to the weekly jobless claims data from the U.S., due out later today, and its impact on the U.S. dollar. Also, the results of Philadelphia Fed Manufacturing survey will be eyed.
