New York gold garnered market enthusiasm and reached close to a six-month high
New York gold garnered market enthusiasm and reached close to a six-month high on Thursday as the release of U.S. jobless claims triggered a rally, Dow Jones reported.
The benchmark December contract settled $1.70 higher at $450.70 an ounce. Early in the session, the release of U.S. jobless claims - which showed adecline of a 1,000 to a seasonally adjusted level of 319,000 - triggered a rally to a high of $453.90 - December gold's highest level since March 16.
Jim Steel of Refco Inc. in New York said the jobless claims report did give gold a boost but the rally in oil appeared to be more of a driver for gold on the day.