- CNTV English - CCTV News

Homepage > News > Biz >

Gold tumbles as drop in jobless claims dampens safe-haven demands

06-03-2011 10:09 BJT

CHICAGO, June 2 (Xinhua) -- Gold futures on the COMEX Division of the New York Mercantile Exchange tumbled on Thursday, as last week's drop in the jobless claims helped to dampen the impetus for buying gold.

The most active gold contract for August delivery lost 10.5 U.S. cents, or 0.68 percent, to 1,532.7 dollars per ounce.

The Labor Department on Thursday said that the number of people who filed applications for unemployment compensation fell slightly last week to 422,000 from 428,000, which has eased concerns over economic recovery and dampened the safe-haven demands for gold.

Gold price enjoyed a strong rebound on Wednesday, buoyed up by safe-haven demands amid disappointing economic data released in the day. However, Thursday's unemployment number has gold price more than lost its gain from the prior trading day.

Besides, a Chicago's senior gold analyst said that some invetors' profit-taking coupled with lower crude prices also pressured the precious metal's momentum.

Silver for July delivery lost 1.492 U.S. dollars, or 3.96 percent, to 36.202 dollars per ounce. Platinum for July delivery fell 6.1 U.S. dollars, or 0.33 percent, to 1,817.8 dollars per ounce.

Editor:Yang Jie |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program