Key Points
(Reuters) Gold prices fell from a near two-week high on Thursday, driven by a firm U.S. dollar after jobless claims data indicated a strong economy, while investors awaited further economic data for guidance on the U.S. Federal Reserves interest rate stance...
ET (1556 GMT), after hitting its highest since Feb. 9 of $2034.69 earlier in the session..
We see gold stay at these levels and there is more downside risks to gold in the short term than upside if we get more positive data on the U.S. economy and if inflation doesnt continue to ease, said Chris Gaffney, president of world markets at EverBank...
The dollar gained 0.1% after data showed the number of Americans filing new claims for unemployment benefits unexpectedly fell last week, suggesting that job growth likely remained solid in February...
Geopolitical risks seem to support the safe-haven aspect of gold and technical charts show that gold has established a pretty hard floor at around $2000 level, Gaffney added...
