Gold futures ended lower on Thursday, extending losses to a third straight session as the dollar stayed positive for much of the day’s session.

The continued surge in coronavirs cases and worries about the economic impact of fresh lockdown restrictions pushed up greenback. Increasing prospects for a no-deal Brexit too supported dollar’s uptick.

The dollar index, which advanced to 92.72 in the Asian session, pared gains subsequently and was last seen at 92.35, up just marginally from previous close.

Gold futures for December ended down $12.40 or about 0.7% at $1,861.50 an ounce.

Silver futures for December ended lower by $0.400 at $24.048 an ounce, while Copper futures for December settled at $3.2020 per pound, gaining $0.0040.

In economic news, data from U.S. Labor Department showed initial jobless claims climbed to 742,000 in the week ended November 14, an increase of 31,000 from the previous week’s revised level of 711,000.

The rebound came as a surprise to economists, who had expected jobless claims to edge down to 707,000 from the 709,000 originally reported for the previous week.

Philadelphia-area manufacturing activity has seen continued growth in the month of November, the Federal Reserve Bank of Philadelphia revealed in a report on Thursday, although the pace of growth slowed compared to the previous month.

The report said the Philly Fed Index pulled back to 26.3 in November after spiking to 32.3 in October, but a positive reading still indicates growth in regional manufacturing activity. Economists had expected the index to drop to 22.0.

A report released by the National Association of Realtors showed existing home sales jumped by 4.3% to an annual rate of 6.85 million in October after soaring by 9.9% to a revised rate of 6.57 million in September. Economists expected existing home sales to slump by 1.4%.

A reading on leading U.S. economic indicators increased in line with economist estimates in the month of October, according to a report released by the Conference Board. The CB said its its leading economic index climbed by 0.7% in the month, matching the increase seen in the previous month as well as expectations.

The material has been provided by InstaForex Company –

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.