WASHINGTON (dpa-AFX) - Gold futures settled higher on Wednesday, gaining for a second straight session despite a strong dollar.
The dollar index climbed to 109.38 in the European session, and despite easing to 109.00 later on, remained firm with a gain of over 0.4%.
The dollar stayed firm on bets the Federal Reserve will hold interest rates at its meeting later this month.
Gold futures for January closed up $7.80 or nearly 0.3% at $2,664.50 an ounce.
Silver futures for January settled slightly up at $30.452 an ounce, while Copper futures for January climbed to $4.2650 per pound, gaining about 1.6%.
A report from payroll processor ADP showed that private sector employment in the U.S. increased by less than expected in the month of December, rising by 122,000 jobs in the month, after climbing by 146,000 jobs in November. Economists had expected private sector employment to grow by 140,000 jobs.
Data from the Labor Department said initial jobless claims slipped to 201,000 in the week ended January 4th, a decrease of 10,000 from the previous week's unrevised level of 211,000. Economists had expected jobless claims to rise to 218,000.
Wholesale inventories in the U.S. dipped in line with estimates in the month of November, the Commerce Department revealed in a report. The Commerce Department said wholesale inventories slipped by 0.2% in November, matching the preliminary estimate as well as economists' expectations.
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