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Gold Slipping Away From $1300 Mark

Gold futures were lower Thursday morning ahead of the weekly U.S. jobless claims report.

Gold prices came up against technical and psychological resistance this week, unable to crack the $1300 mark despite lingering geopolitical concerns.

Traders have valued gold as a safe haven amid tensions between the US and numerous adversaries including North Korean and Iran.

Gold was down $5 at $1280 an ounce this morning.

The Labor Department's jobless claims for the week will be published at 8.30 am ET. The consensus is for 242k, up from 234k last week.

Philadelphia Fed Business Outlook Survey for April will be released at 8.30 am ET. The consensus is for 25.5.

The Conference Board's Leading Indicators for March will be issued at 10.00 am ET. The consensus is for growth of 0.2 percent, down from 0.6 percent a year ago.

by RTTNews Staff Writer

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