Gold bounces off technical ceiling

Source: Xinhua| 2020-07-10 02:55:45|Editor: huaxia

CHICAGO, July 9 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Thursday.

The most active gold contract for August delivery fell 16.8 U.S. dollars, or 0.92 percent, to close at 1,803.8 dollars per ounce.

Market analysts believe as gold hit the highest record settlement since September 2011 on Wednesday, traders took profits as they saw the precious metal hit this technical ceiling.

The weekly jobless claims released by the U.S. Department of Labor on Thursday hit a four-month low of 1.31 million in the week ending July 4, 100,000 claims less than in the previous week. But If all eight states and federal assistance programs are included, continuing claims remained higher in the seven days ending June 20 than in the previous week.

Gold was also under pressure as U.S. dollar went stronger.

Silver for September delivery fell 19.9 cents, or 1.04 percent, to close at 18.962 dollars per ounce. Platinum for October delivery fell 37.1 dollars, or 4.2 percent, to close at 846.9 dollars per ounce. Enditem

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