RTTNews - Gold finished slightly lower on Thursday, snapping a modest two-session streak of gains. The dollar was mixed against other majors, reducing the need to choose gold as a hedge investment.
August-stamped gold slipped to $934.60 per ounce, down $1.40 on the session. Prices traded between $944 and $930 through the session.
The dollar fell against the euro, but saw some modest strength against the pound and yen. The greenback has struggled to find direction throughout most of the week as investors look ahead to the FOMC meeting next week.
For the week, gold is down $6.10 per ounce and the metal is down $45.70 per ounce for the month of June. Early this month, the metal has reached above $992 before a retreat.
In economic news, a Labor Department report showed that initial jobless claims rose to 608,000 from the previous week's revised figure of 605,000. Economists had expected jobless claims to edge up to 604,000 from the 601,000 originally reported for the previous week.
A Commerce Department report showed that the leading indicators index rose 1.2 percent in May following an upwardly revised 1.1 percent increase in April. Economists had expected the index to increase by 1.0 percent.
At the same time, the Philly Fed said its index of activity in the manufacturing sector rose to a negative 2.2 in June from a negative 22.6 in May, although a negative reading still indicates a contraction. Economists had been expecting a reading of negative 17.0.
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