Gold up on mediocre US jobless report

Gold futures on the COMEX division of the New York Mercantile Exchange went up Thursday on mediocre U. S. jobless claims report.

The most active gold contract for December delivery rose 1.2 U. S. dollars, or 0.09 percent, to settle at 1,315.7 dollars per ounce.

Gold prices settled higher as U.S. jobless claims are at a six- week high, according to the U.S. Department of Labor in a report released Thursday. Claims rose 21,000 to 311,000 for the week ending Aug. 9, much worse than market expected.

Keeping those gains capped was a report from the World Gold Council released Thursday which showed a slower global demand for gold in the second quarter as buying from India and China stabilized after a record-breaking quarter during the same time last year.

Silver for September delivery gained 6.1 cents, or 0.31 percent, to close at 19.906 dollars per ounce. Platinum for October delivery lost 0.7 dollar, or 0.05 percent, to close at 1,469.2 dollars per ounce.