Gold Futures Prices Slip Lower on weaker U.S. dollar

Gold Futures Prices Slip Lower on weaker U.S. dollar

Gold futures prices slipped lower on Friday, as the U.S. dollar hovered near one-week lows, although ongoing geopolitical concerns were likely to continue to support safe-haven demand.

On the Comex, gold futures for April delivery were down 0.28% at $1,238.05, just off Thursday’s one-week high of 1,240.70.

Spot gold was flat at $1,238.29 per ounce.

According to the US State Department of Labor on Thursday that initial jobless claims rose 5,000 to 239,000 last week, compared with forecast for rise of 11,000 to 245,000.

The data also showed that the number of building permits surged 4.6% to 1.285 million units last month from 1.21 million in December.

SPDR gold holdings, rose 5.6 percent so far this month, the most since June 2016.

Dollar index which tracks the US currency versus a basket of currencies, at 100.540 on Friday, after the lows recorded in one week from 100,410 the previous day.

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