NEW YORK (MarketWatch) -- Gold futures stayed higher Thursday after weekly jobless claims edged down by 1,000 last week to 400,000. Gold for December delivery GC1Z +0.65% rose $7.6, or 0.5%, to $1,674.90 an ounce as continued concerns about slower economic growth attracted investors to safer haven such as the yellow metal. "Gold is still proving its character as a store of value in the current market environment, marked by equity markets tumbling sharply in part and continued high risk aversion," said analysts at Commerzbank Commodity Research in a note. Crude oil for September delivery CL1U -1.18% extended Wednesday's losses and was down 1.2%, or $1.10, to $90.64 a barrel. "The downward movement was strengthened yesterday by DOE [Department of Energy] inventory data, showing a rise in U.S. crude-oil inventories last week of 950 thousand barrels, while the market had anticipated a fall," the analysts said.
