Sponsored Links
Gold prices dropped to their lowest levels of 2010 on Thursday as the US dollar continued to strengthen versus the euro on concerns about the sustainability of the global economic recovery.
With inflation in check and the dollar back in style, February gold dropped another $9.40 at $1103.20 an ounce, extending this week's big losses. Chinese demand concerns also weighed on metal prices.
Palladium for March fell $8.10 to $453.95, while the most heavily traded Platinum contract dropped $25.50 to 1592.10
In economic news, first time claims for unemployment benefits unexpectedly jumped to a two month high in the week ended January 16th, with increase likely to renew concerns about the outlook for the labor market.
Initial jobless claims rose to 482,000 from the previous week's revised figure of 446,000, according to a report released by the Labor Department on Thursday.
The Conference Board released its report on leading economic indicators in the month of December, showing that its leading indicators index increased for the ninth consecutive month, rising by more than economists had anticipated.
While the Federal Reserve Bank of Philadelphia released a report on Thursday showing a bigger than expected slowdown in the pace of growth in regional manufacturing activity in January, the manufacturing sector continued to show improvement for the fifth consecutive month.
The Conference Board released its report on leading economic indicators in the month of December, showing that its leading indicators index increased for the ninth consecutive month, rising by more than economists had anticipated.
0 komentar:
Post a Comment