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Alliance News

Gold Little Changes As Stocks Rally.

Thu, 20th Apr 2017 19:56

WASHINGTON (Alliance News) - Gold futures were flat Thursday as US stocks surged on upbeat corporate earnings. The Dow Jones Industrial Average was up 200 points in afternoon dealing.

With risk appetite picking up, there was less demand for safe haven assets such as gold.

June gold settled at USD1,283.80/oz, up 40 cents for the session. Gold recently hit 5-month highs amid geopolitical tensions and uncertainties about Trump administration fiscal policies.

In economic news, US initial jobless claims rebounded in the week ended April 15th, roughly in line with estimates. First-time claims climbed to 244,000, an increase of 10,000 from the previous week's unrevised level of 234,000.

Copyright RTT News/dpa-AFX

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