Gold falls in correction

By Xu JingUnreguser
  • World
  • Friday, 08 Dec 2023

CHICAGO, Dec. 7 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Thursday in correction after a sharp rise.

The most active gold contract for February delivery fell 1.50 U.S. dollars, or 0.07 percent, to close at 2,046.40 dollars per ounce.

The U.S. Labor Department reported Thursday that U.S. unemployment benefits claims rose by 1,000 to 220,000 for the week ending Dec. 2, in line with analyst expectations.

The U.S. Commerce Department reported that U.S. inventories at merchant wholesalers were 0.4 percent lower at the end of October than the same point a month earlier. Economists had expected inventories to slip by 0.2 percent.

Investors are looking forward to the big jobs report due Friday for the future direction of the gold market.

Silver for March delivery fell 16.90 cents, or 0.70 percent, to close at 24.059 dollars per ounce. Platinum for January delivery rose 18.30 dollars, or 2.05 percent, to close at 912.00 dollars per ounce.

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