WASHINGTON (dpa-AFX) - Gold futures were flat Thursday as traders weighed a relatively positive U.S. GDP report.
Prices fell earlier in the week after hawkish comments from Fed Chair Janet Yellen. The nation's top central banker said interest rates should be raised only gradually.
Gold rose 90 cents to $1288 an ounce.
Today, the Commerce Department said economic activity increased by slightly more than previously estimated in the second quarter.
The report said gross domestic product jumped by 3.1 percent in the second quarter compared to the previously estimated 3.0 percent growth. Economists had expected the pace of GDP growth to be unrevised.
A separate report from the Labor Department showed a rebound in initial jobless claims in the week ended September 23rd.
The report said initial jobless claims rose to 272,000, an increase of 12,000 from the previous week's revised level of 260,000.
Economists had expected jobless claims to rise to 270,000 from the 259,000 originally reported for the previous week.
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