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Gold gains 0.5 percent Thursday

Oct. 25, 2012 at 6:06 PM   |   Comments

NEW YORK, Oct. 25 (UPI) -- Gold for December delivery rose Thursday on the Comex division of the New York Mercantile as equities rose modestly.

The Labor Department said first-time benefit claims for unemployment fell by 23,000 in the week and durable goods orders, Commerce said, rose 9.9 percent. But gains in equities were slim, the Dow Jones industrial average adding 0.2 percent, while the Standard & Poor's 500 index added 0.3 percent.

The dollar was flat with the dollar index climbing 0.18 percent to 80.10 on the International Exchange.

Gold added $9.60 or 0.5 percent, to close at $1,711.20 per troy ounce. Silver gained 51 cent or 1.6 percent to $32.13.

The euro fell to $1.2936 from Wednesday's $1.2973. Against the yen, the dollar rose to 80.34 yen from 79.81 yen.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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