WASHINGTON (dpa-AFX) - Gold futures settled lower on Thursday, snapping a three-day winning streak, despite the dollar paring early gains and drifting lower in the New York session.
Gold prices had climbed to multi-month highs earlier this week on safe-haven buying amid uncertainty about U.S. President Donald Trump's trade policies and tariff threats.
The dollar index, which advanced to 108.51, dropped to 107.92 before edging u pa bit to 108.03, still down by about 0.13% from previous close.
Gold futures for January settled lower by $4.50 or about 0.16% at $2,763.10 an ounce.
Silver futures for January closed down $0.566 or about 1.81% at $30.673 a barrel, while Copper futures for January climbed to $4.2995 per pound, gaining $0.0280 or about 0.66%.
In Davos, Trump reaffirmed his earlier promises of tax cuts, tariffs on trading partners, and increased energy production. He also urged the Federal Reserve and other major central bank to cut interest rates.
In U.S. economic news, data from the Labor Department said first-time claims for U.S. unemployment benefits rose to 223,000 in the week ended January 18th, an increase of 6,000 from the previous week's unrevised level of 217,000. Economists had expected jobless claims to inch up to 220,000.
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