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Gold finished little-changed on Thursday, remaining in the neighborhood of the $1,000 per ounce mark. An encouraging jobs report reduced the metal's hedge value.
December-stamped gold rose to $996.80 per ounce, down 30 cents on the session. After earlier hitting as high as $1,000.50, gold slipped as low as $983.20.
For the third straight session, gold touched above $1,000 but failed to closed above that mark. The metal's last four-digit close came in February.
The dollar stabilized near an 8 1/2-month low against the euro on Thursday in New York. The buck continued to fall against the pound. Gold usually moves opposite the dollar.
In economic news, the Labor Department report showed that initial jobless claims fell to 550,000 from the previous week's revised figure of 576,000. Economists had been expecting jobless claims to edge down to 560,000 from the 570,000 originally reported for the previous week.
Meanwhile, a Commerce Department report showed that the trade deficit widened to $32.0 billion in July from a revised $27.5 billion in June. Economists had been expecting the deficit to widen to $27.3 billion from the $27.0 billion originally reported for the previous month.
At 9:55 a.m. ET, the preliminary University of Michigan/Reuters consumer sentiment report for September is due. A reading of 67.8, compared to 65.7 in August.
Wholesale inventories data for July is expected at 10 a.m. ET. A decline of 1% is forecast, compared to drop 1.7% in the previous month.
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