Gold futures on the COMEX Division of the New York Mercantile Exchange moved moderately higher for the fourth session in a row on Thursday, as dollar continued to slide, increasing gold's appeal as an alternative investment. Silver and platinum both jumped.
The most active gold contract for February delivery added 1 U.S. dollars, or 0.1 percent, to 1,389.3 dollars per ounce.
The dollar index, a gauge compares the U.S. unit to a basket of six currencies; continue to dip on Wednesday. A weaker dollar makes dollar-denominated bullion cheaper to holders of other currencies.
Traders mentioned that the lower-than-expected U.S. weekly jobless claim offered gold a strong boost earlier in the morning, as the initial unemployment claims jumped 26,000 to 436,000 in the week ended Nov. 27, according to U.S. Labor Department. Economists have expected the claims to rise by 16,000.
Meanwhile, traders also pointed out that the stable safe-haven demand continued to support the gold market as European Central Banks failed to offer new information about their plan to support the euro and withstand the widening sovereign debt crisis in the Eurozone. Silver futures for March delivery climbed 15.9 cents, or 0.6 percent, to 28.572 dollars per ounce. January platinum rose 29.1 dollars, or 1.7 percent, to 1,713.1 dollars per ounce.
