Gold futures ended lower on Thursday, finding haven-related interest in short supply as investors eye moves in the dollar and in global equities, setting prices up for a loss on the week.

The metal pared some of its earlier declines after a report on weekly jobless claims showed that the number of Americans seeking unemployment benefits in the latest week held nearly steady at 1.5 million, while the number of workers unemployed remains elevated, despite the U.S. economy showing signs of recovery from the COVID-19 pandemic.

Against that backdrop, August gold fell $4.50, or 0.3%, to settle at $1,731.10 an ounce on Comex. Gold futures have been trading in a $1,670 to $1,770 range for about two months despite a sharp fall in that time for the U.S. dollar against major currencies. Week to date, prices were down roughly 0.4%, according to FactSet data.

Source : Marketwatch