COMEX gold futures in Thursday session settled with losses
COMEX gold futures settled with modest losses in a thinly traded session on Thursday as most market players waited on the sidelines ahead of Friday's September U.S. employment data, Reuters reports.
"Today seemed to be mostly characterized by some light profit-taking with most of the big players stepping aside and waiting for tomorrow's data," said one dealer.
December gold ended down 50 cents at $419.50 a ounce, after moving in a tight $418.80-$421.70 range.
The contract hit $422.20 on Wednesday, the highest price since April 13, when it was retreating from 16-year highs on the first of that month.
Recent weakness in the dollar, another record oil price at $53 a barrel, instability in Iraq and uncertainty ahead of November's U.S. presidential election have been supportive factors for the 6 percent rise in gold prices in recent weeks.
Spot fetched $417.80/8.55, slightly better than Wednesday's close at $417.75/8.50. London's afternoon fix was at $418.10.