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Gold Holds $1300 As Dollar Goes Limp

Gold futures inched higher Thursday as the dollar weakened versus the euro.

The euro has steadied amid hopes that Italy's coalition government can get the nation's economy into high gear.

August gold settled at $1,303/oz, up $1.60, or 0.1%.

Traders also considered a slew of second-tier U.S. economic data, the most important of which was the weekly jobless claims report.

First-time claims for U.S. unemployment benefits saw a modest decrease in the week ended June 2nd, according to a report released by the Labor Department on Thursday.

The Labor Department said initial jobless claims edged down to 222,000, a decrease of 1,000 from the previous week's revised level of 223,000.

Economists had expected jobless claims to rise to 225,

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