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1st LD Writethru: Gold up slightly after 4-session loss

Xinhua, May 29, 2015 Adjust font size:

Gold futures on the COMEX division of the New York Mercantile Exchange rebounded slightly on Thursday after a four-session loss.

The most active gold contract for August delivery rose 2.3 U.S. dollars, or 0.19 percent, to settle at 1,188.80 dollars per ounce.

A report released on Thursday by the U.S. Department of Labor showed slightly worse-than-expected jobless claims, with initial claims increasing by 7,000 to 282,000 during the week ended on May 23. Analysts noted that the figure was bullish for gold, but not strong enough.

The National Association of Realtors said that the pending home sales jumped 3.4 percent in April to a seasonally adjusted level of 112.4. Analysts said the figure was highest level in nine years, showing firming demand in the U.S. housing market. This put some pressure on gold futures.

Traders are eyeing on the Greek debt crisis and Friday's revision to first quarter U.S. GDP data.

Silver for July delivery added 2.2 cents, or 0.13 percent, to close at 16.669 dollars per ounce. Platinum for July delivery fell 2.7 dollars, or 0.24 percent, to close at 1,116.30 dollars per ounce. Endite