MT Newswires:Gold Pushes Higher As U.S. Unemployment Jumps
MT Newswires: COMMODITIES: Gold Pushes Higher As U.S. Unemployment Jumps Again 09:02 AM EDT, 04/16/2020 (MT Newswires) -- Gold prices rose early on Thursday as U.S figures show another massive rise in unemployment as coronavirus quarantines continue to devastate the country's economy. Gold for June delivery was last seen up US$20.20 to US$1,760.40 per ounce in Comex electronic trade. U.S. initial jobless claims rose by 5.25 million last week. Though down from rises of more than six million in the prior two weeks, but showing the country has shed more than 22 million jobs in the past month as businesses furlough workers while quarantines slow commerce. European stock markets were last seen mostly higher, while futures point to a higher open on U.S. markets, moving cash away from gold's safe haven. The U.S. dollar rose, making gold more expensive for international buyers. The ICE dollar index was last seen up 0.24 points to 99.7. Cheers longs!!!