GLD Bouncing as Jobless Claims in Focus
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The price of spot gold, traded through ETF SPDR Gold Shares (NYSE: GLD), is higher in early trading on Thursday. The price tested lower yesterday but was rejected at $1533 and bounced to $1568. The price has been getting pushed lower due to recent strength in the USD Index, which is posting fresh highs on an almost daily basis. Gold traders are also eying economic data out of the US, as they attempt to read the tea leaves regarding US monetary policy and prospects for further QE. Jobless claims data out this morning could set the tone for gold.
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