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Gold prices decline on the eve of leaving Friday employment report in the U.S., which will assess the state of the economy and prospects for Fed stimulus .
Today we have published weekly data on initial applications for unemployment benefits . The number of people who first applied for unemployment benefits , rose moderately last week , topping forecasts while most experts .
The Labor Department said : for the week ending March 29, the number of initial claims for unemployment benefits rose by 16,000 to a seasonally adjusted , while reaching 326 thousand Nevertheless , despite the increase in the number of complaints remains below the pore level in 400,000 the resolution of which may talk about the problems in the labor market . Economists had expected the value of this ratio will rise to 319 thousand add the result for the previous week was revised downwards - to 310 thousand from 311 thousand Analyst Ministry of Labour said there were no special factors that could have an impact on the overall result.
Today's data were presented for the day on how the Ministry of Labour will publish its monthly employment figures . Economists expect the March U.S. employers created 196 thousand jobs against 175 thousand in the previous month . These indicators would point to the labor market recovery, after poor results in December and January , when employers added 213,000 in the general positions. Many economists blame the unusually cold weather that left people without jobs in those months .
" Some physical markets in Asia did not show any activity that is not good for gold. As stock markets tend to new heights, gold increasingly difficult to compete with them ," - said precious metals trader in Hong Kong.
Prices in China on Wednesday briefly rose above London , but then dropped down to their level , and on Thursday were lower by $ 2 per ounce. Gold in China since the beginning of March offered cheaper than in London. According to dealers , they see weak demand in other major markets in Asia - India, Thailand and Indonesia.
The cost of the June gold futures on the COMEX today dropped to $ 1281.90 per ounce.
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