Gold prices were lower Thursday as stock markets were relatively calm after brutal losses to start 2016.
February gold fell by $8, or 0.7%, to settle at $1,098.20 an ounce on Comex. Prices are up mor than 3 percent since the new year, bucking the downtrend in metal prices.
There was little reaction to an unexpected increase in initial jobless claims in the week ended January 16th.
The report said initial jobless claims climbed to 293,000, an increase of 10,000 from the previous week’s revised level of 283,000.
Earlier in the day, the European Central Bank left interest rates unchanged.
In his subsequent press conference, ECB President Mario Draghi noted downside risks have increased and said the bank would review and possibly reconsider its monetary policy stance at the next meeting in early March.
The material has been provided by InstaForex Company – www.instaforex.com