Investing.com – Gold prices were little changed on Thursday, as markets were awaiting the nomination of the next Federal Reserve head as well as the unveiling of a fiscal plan, while positive U.S. data lent some support to the dollar.
Comex were steady at $1,276.97 a troy ounce by 08:45 a.m. ET (12:45 GMT), off session highs of $1,282.36.
The U.S. Department of Labor reported on Thursday that initial jobless claims , staying close to the lowest level in four decades.
Data also showed that U.S. worker productivity in the third quarter.
The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 94.63, off session lows of 94.37.
Gold is sensitive to moves in the dollar. A stronger dollar makes gold more expensive for holders of foreign currency.
The greenback had come under pressure earlier, as U.S. lawmakers were later Thursday for a measure that will seek up to $6 trillion in tax cuts over 10 years.
Also Thursday, U.S. President Donald Trump was expected to nominate , seen as less hawkish than other candidates, as the next chair of the U.S. central bank.
At the conclusion of its policy meeting on Wednesday, , as expected, but further added to expectations for a December rate hike by highlighting “solid” economic growth and a strengthening labor market.
Elsewhere on the Comex, declined 0.44% to $17.10 a troy ounce.
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Source: Investing.com
