Golden Scout - Gold Up, With Trump Stimulus Threat Overshadowing U.S. Jobs Data

Source: Investing.com

Gold was up on Thursday morning in Asia, with a lower-than-expected number of jobless claims overshadowed by President Donald Trump’s threat to veto the COVID-19 stimulus bill approved by Congress earlier in the week.

Gold futures inched up 0.02% at $1,878.45 by 11:47 PM ET (4:47AM GMT). The dollar was down on Thursday.

Trump demanded in a video uploaded to Twitter that the bill be amended to increase the number of stimulus checks to be paid to each American from the current $600 to $2000.

House of Representatives Speaker Nancy Pelosi quickly echoed Trump’s call for larger individual stimulus checks, with investors watching to see whether the House of Representatives would pass this additional measure during a pro forma session later in the day.

Data released on Wednesday showed that jobless claims for the past week fell to 803,000 from the previous week’s 892,000 claims and the 885,000 claims in forecasts prepared by Investing.com.

It also showed that core durable goods orders grew 0.4% month-on-month in November, down from the 0.5% growth in forecasts and the 1.9% growth seen in October.

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