Gold fell on Thursday as the impact of a weaker dollar was offset by positive U.S. economic data that offered hope the labor market continues to expand even as growth has stalled, ahead of Friday’s important U.S. nonfarm jobs report.
Spot gold fell 0.3 percent to $1,200.10 an ounce by 3:01 p.m. EDT (1901 GMT). U.S. gold for June delivery slipped $7.30 an ounce to settle at $1,200.90.
The metal reversed initial gains after data showed the number of Americans filing new claims for unemployment benefits unexpectedly fell last week, while February’s U.S. trade deficit narrowed to it lowest point since October 2009.
The dollar, however, remained under pressure on views that U.S. economic growth slowed sharply in the first quarter.
Investors turned their attention to Friday’s U.S. nonfarm payrolls, which economists polled by Reuters forecast to show an increase of 245,000 in March after a 295,000 rise in February.
Spot silver fell 1.2 percent to $16.68 an ounce, while platinum lost 0.7 percent to $1,150.50 an ounce and palladium rose 0.1 percent to $743 an ounce.
Source : Reuters