Gold rises as U.S. dollar weakens

By Xu JingUnreguser

CHICAGO, Dec. 8 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Thursday as the U.S. dollar weakened.

The most active gold contract for February delivery rose 3.5 U.S. dollars, or 0.19 percent, to close at 1,801.5 dollars per ounce.

Gold also found support as China's retail demand for gold is expected to increase sharply, market analysts hold.

The U.S. Labor Department reported Thursday that U.S. initial jobless claims rose to 230,000 for the week ending Dec. 3, up by 4,000 from the previous week's 226,000.

Investors are also waiting for the Federal Reserve's monetary policy meeting next week.

Silver for March delivery rose 32.4 cents, or 1.41 percent, to close at 23.246 dollars per ounce. Platinum for January delivery rose 3.1 dollars, or 0.31 percent, to close at 1,014.6 dollars per ounce.

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