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Gold slips as upbeat US data boosts dollar, dims rate-cut bets
Spot gold eased 0.3% to $4,601.53 per ounce by 0217 GMT. Prices are still poised for about a 2% weekly gain after scaling a record peak of $4,642.72 on Wednesday. US gold futures for February delivery fell 0.4% to $4,605.20. The dollar was poised for a third weekly gain on Friday after data from the US Labor Department showed weekly initial jobless claims for state unemployment benefits dropped 9,000 to a seasonally adjusted 198,000, below expectations of economists polled by Reuters calling for 215,000 claims. A firmer dollar makes greenback-priced metals more expensive for overseas buyers. Gold, a non-yielding ... (full story)
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