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Gold prices fell , retreating from six-month high , which was associated with the release of better than expected U.S. data . As it became , initial applications for unemployment benefits fell by 9,000 and totaled a seasonally adjusted 315,000 in the week ended March 8. The result was the lowest since late November. Number of references to the previous week were revised slightly higher. Economists had forecast 334,000 new claims will be filed last week. Stronger decline suggests that employers cut fewer workers than in previous months - the development , sometimes pointing to boost employment.
Another report showed that retail sales rose a seasonally adjusted 0.3% in February from January . Retail sales excluding auto purchases grew at the same pace . Economists had forecast a 0.3 % increase in total sales last month and an increase of 0.2 % excluding autos . Sales rose by a modest 1.5% compared with a year earlier . Changes showed that retail sales fell 0.6 % in January compared with the originally voiced by -0.4 %. Like other aspects of the economy , retail sales slowed in December and January after rising in most of the past year. But sales have bounced back in most categories last month, including restaurants , sporting goods stores and furniture dealers .
Meanwhile, add that on concerns about the Chinese economy and geopolitical tensions between Russia and Ukraine, gold is still in demand as a " safe haven ." Support to the market also gives the strengthening euro, which reached a maximum level against the U.S. dollar since October 2011. , And speculative activity , against which continues to increase the likelihood of correction .
The data also showed that the largest gold reserves in the world of exchange-traded fund SPDR Gold Shares fell on Wednesday , recording his first loss since February 19 .
The cost of the April gold futures on the COMEX today dropped to $ 1368.90 per ounce.
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