WASHINGTON (dpa-AFX) - Despite a stronger dollar, gold futures settled higher for a fourth straight session, as persisting geopolitical tensions contributed to the safe-haven commodity's upside on Thursday.
On Tuesday, Russian President Vladimir Putin approved an updated nuclear doctrine that will help expand the conditions for using nuclear weapons. A day later, Ukraine launched UK cruise missiles into Russia.
The United States vetoed a U.N. resolution demanding an immediate cease-fire in the war in Gaza on Wednesday because it is not linked to an immediate release of hostages taken captive by Hamas in Israel in October 2023.
The dollar index, which struggled for direction till around mid morning, climbed to 107.16, a new 52-week high, before easing slightly to 107.05, up 0.3% from previous close.
Gold futures for November closed up $23.90 or about 0.9% at $2,672.10 an ounce.
Silver futures for November settled at $30.912 an ounce, losing $0.044 or 0.14%, while Copper futures for November dropped to $4.1135 per pound, down $0.0300 or 0.72%.
Data from the Labor Department showed initial jobless claims slipped to 213,00 in the week ended November 16th, a decrease of 6,000 from the previous week's revised level of 219,000.
Economists had expected jobless claims to inch up to 220,000 from the 217,000 originally reported for the previous week.
Meanwhile, a reading on leading U.S. economic indicators fell by slightly more than expected in the month of October, the Conference Board revealed in a separate report.
The Conference Board said its leading economic index slid by 0.4% in October after dipping by a revised 0.3% in September. Economists had expected the leading economic index to fall by 0.3% compared to the 0.5% decrease originally reported for the previous month.
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