WASHINGTON (dpa-AFX) - Gold futures settled marginally up on Thursday, rising higher for an eighth successive session as uncertainty about growth and geopolitical tensions continued to prompt investors to seek the safe-haven commodity.
Once again, a stronger dollar limited the yellow metal's upside. The dollar index, which climbed to 104.13, eased a bit to 103.90, but still remained well above the flat line, gaining nearly 0.5%.
The Fed left interest rate unchanged on Wednesday. Today, the Bank of England and the Swedish central bank held rates, while the Swiss National Bank lowered its benchmark rate by 25 basis points.
Gold futures for March ended up $4.10 or about 0.14% at $3,040.00 an ounce, a fresh record closing high.
Silver futures for March settled at $33.786 an ounce, down $$0.189 or about 0.56% from previous close, while Copper futures for March edged up $0.0025 at $5.0785 per pound.
First-time claims for U.S. unemployment benefits crept slightly higher in the week ended March 15th, according to a report released by the Labor Department.
The report said initial jobless claims inched up to 223,000, an increase of 2,000 from the previous week's revised level of 221,000. Economists had expected jobless claims to rise to 224,000 from the 220,000 originally reported for the previous week.
A report released by the Federal Reserve Bank of Philadelphia on Thursday said regional manufacturing activity expanded overall but was less widespread in the month of March.
The Philly Fed said its diffusion index for current general activity slid to 12.5 in March after plunging to 18.1 in February, although a positive reading still indicates growth. Economists had expected the index to slump to 8.5.
The report also said the survey's future indicators suggest less widespread expectations for growth over the next six months, with the diffusion index for future general activity tumbling to 5.6 in March from 27.8 in February.
A report released by the Conference Board showed its reading on leading U.S. economic indicators fell by slightly more than expected in the month of February, with the leading index declining by 0.3% in the month, after slipping by a revised 0.2% in January.
A report from the National Association of Realtors said existing home sales surged by 4.2% to an annual rate of 4.26 million in February after tumbling by 4.7% to a revised rate of 4.09 million in January. Economists had expected existing home sales to drop by 3.2%.
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