Gold edges down, while staying close to 3-week peaks
On Friday, gold sank, because a stronger greenback weighed. Nevertheless, the number one precious metal is still keeping to its three-week peaks amid lower expectations for a summer American rate lift.
In New York, August delivery gold futures decreased 0.34%, being worth $1,268.25 per troy ounce.
The August contract concluded Thursday’s trading session approximately 0.82% higher, hitting $1,272.70 per ounce.
By the way, gold futures were about to gain support at $1,158.10, which is Thursday’s minimum and simultaneously resistance.
The greenback managed to regain some ground after the Department of Labor informed on Thursday that the total number of individuals filing for initial jobless benefits in the week by June 4 slumped by 4,000, currently accounting for 264,000, compared to the previous week’s outcome of 268,000.
Financial experts had expected jobless claims to edge up by approximately 3,000 to 270,000 the previous week.