Gold futures settled modestly lower Thursday after several better than expected U.S. economic reports reduced investors’ affinity for the safe haven.
COMEX gold futures surrendered earlier gains to close lower by $3.00, or 0.2%, at $1,610.60 per ounce. The yellow metal reached an intra-day low of $1,599.10 this morning before paring its losses.
Three key data points on the state of the U.S. economy were announced this morning, as follows:
- Weekly jobless claims fell to 364,000, below the 380,000 median estimate among economists, and the lowest level since April 2008
- University of Michigan Consumer Sentiment rose to 69.9 in December – beating the consensus estimate of 68.0
- Leading economic indicators rose 0.5% in November, ahead of the 0.3% expected by economists
Aurizon Mines Advances Duvay Gold Project
- The current field operations at Duvay are centered around a mini-bulk sampling program and drilling
- The first two pit sample concentrates have been shipped to an independent laboratory for analysis by fire assay; processing of the third mini-bulk sample has commenced
- Results from the first 13 hole drill program included the intersection of 83.19 grams per tonne of gold over 1.0 meters.
