Gold closed with a gain on Thursday as the dollar edged down despite stronger than expected economic data, while treasury yields rose.
Gold for February delivery closed up US$7.20 to settle at US$2,050.00 per ounce, after closing at a record US$2,093.10 on Dec.27.
US initial jobless claims rose by 202,000 last week, down from 218,000 a week early and well under expectations for 219,000 claims, according to Marketwatch. As well, private-sector jobs rose by 164,000 positions in December, according the the ADP Employment report, up from 103,000 a month earlier and above expectations for a 130,000 rise.
The dollar moved off early lows following the data but remains weaker than on Wednesday, with the ICE dollar index last seen down 0.09 points to 102.41.
Treasury yields were higher following the data, with the US two-year note last seen paying 4.408%, up 6.7 basis points, while the 10-year note yield was up 8.0 basis points to 4.0%.
Source : MT Newswires
