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Gold At Highest In Four Weeks As Stocks Slide

Thu, 9th Nov 2017 19:09

WASHINGTON (Alliance News) - Gold futures inched higher Thursday, touching the highest since mid-October on increased safe haven appetite.

Stocks were hammered today, slipping from record highs, after lawmakers hinted they would delay corporate tax reform until 2019.

Dec. gold settled at USD1,287.50/oz, up USD3.80, or 0.3%.

In economic news, first-time claims for US unemployment benefits rose by more than expected in the week ended November 4th, according to a report released by the Labor Department on Thursday.

The report said initial jobless claims climbed to 239,000, an increase of 10,000 from the previous week's unrevised level of 229,000. Economists had expected jobless claims to edge up to 231,000.

US wholesale inventories edged up by 0.3% in September after climbing by a revised 0.8% in August.

Copyright RTT News/dpa-AFX

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