RTTN:Gold Little Changed Near $1,620 Amid Mixed Dollar
(RTTNews) - The price of gold was little changed Thursday morning as the U.S. dollar was trading mixed ahead of today's economic releases, including weekly jobless claims data.
Gold for December delivery, the most actively traded contract, edged up $1.80 to $1,619.90 an ounce. Yesterday, gold ended lower as investors locked in gains after the yellow metal made its biggest one-day advance in a month.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, were unchanged at 1,241.92 tons.
Meanwhile, the U.S. dollar eased near its one-week low versus the euro and sterling. The buck was ticking lower against the Swiss franc and edging higher versus the yen.
In economic news from the euro zone, economic confidence in the region declined more than expected in September, survey data from the European Commission showed. The economic sentiment index came in at 95, down from 98.4 in August and below the consensus forecast of 96.
Meanwhile, German unemployment decreased notably in September, according to data from Federal Labor Agency. The number of unemployed fell by seasonally adjusted 26,000 after declining by revised 9,000 in August. The expected fall for September was just 8,000.
Elsewhere, the prices of silver and platinum were ticking higher in morning deals.
In economic news from the U.S., the Labor Department will release its customary weekly jobless claims data at 8.30 a.m ET. Economists expect the claims to have edged down to 420,000 from 423,000 reported last week.
Simultaneously, the Commerce Department will come out with its second quarter GDP estimates. Economists expect GDP growth to be upwardly revised to 1.2 percent.
