WASHINGTON (dpa-AFX) - Gold futures settled higher on Thursday as the dollar turned weak after briefly climbing up in early New York session.
The dollar fell after data showed a bigger-than-expected increase in first-time jobless claims in the U.S. last week.
A report showing an unexpected contraction in Philadelphia-area manufacturing activity in the month of April weighed as well on the currency.
The dollar index, which rose to 102.13, dropped to 101.63 around mid morning and is hovering around 101.80 now, down 0.16% from the previous close.
Gold futures for Juned ended higher by $11.80 or about 0.6% at $2,019.10 an ounce.
Silver futures for May edged up $0.02 to settle at $25.373 an ounce, while Copper futures for May ended down $0.0515 at $4.0255 an ounce.
Data from the Labor Department showed that initial jobless claims crept up to 245,000 in the week ended April 14, an increase of 5,000 from the previous week's revised level of 240,000.
Economists had expected jobless claims to inch up to 240,000 from the 239,000 originally reported for the previous week.
Philadelphia-area manufacturing activity unexpectedly contracted at an accelerated rate in the month of April, according to a report released by the Federal Reserve Bank of Philadelphia.
The Philly Fed said its diffusion index for current activity slumped to a negative 31.3 in April from a negative 23.2 in March, with a negative reading indicating a contraction. Economists had expected the index rise to a negative 19.2.
Copyright(c) 2023 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX