Gold rose, but remained below US$1,390/oz today. The yellow metal was supported by safe haven demand ahead of tomorrow’s key non-farm payrolls update from the Labor Department and pressures by a stronger US dollar.
Today’s jobless claims data showed an increase of 26,000 in initial claims and a decline to 431,000 in the less volatile four week moving average, sending mixed signals to the market.
Meanwhile, the American currency gained against the euro after the European Central Bank decided not to make any changes to the current monetary policy and interest rates, while it was speculated it may opt for a monetary stimulus to prop the banking system.
Gold last traded at US$1,388/oz. Silver and platinum climbed to US$28.52/oz and US$1,707/oz respectively.
African Barrick Gold (LON:ABG) climbed 1.7%, while fellow gold producer Randgold Resources (LON:RRS) rose marginally.
Silver miner Fresnillo (LON:FRES) and platinum miner Lonmin (LON:LMI) added just over 2%.
In the FTSE 250, Aquarius Platinum (LON:AQP) rallied 3.8%, while gold miner Petropavlovsk (LON:POG) and silver producer Hochschild Mining(LON:HOC) advanced 1.8% and 2.6% respectively.
Latin America focused gold producer and explorer Orosur Mining (LON:OMI) was among the top risers in the sector with a 6.5% advance.
