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Gold Falls on Stronger U.S. Dollar, Treasury Yields

Gold futures on the COMEX division of the New York Mercantile Exchange fell on Thursday on stronger U.S. dollar index and Treasury yields.

The most active gold contract for December delivery fell 13.10 U.S. dollars, or 0.68 percent, to close at 1,915.20 dollars per ounce.

Economic data released Thursday further dampened gold. The U.S. Labor Department reported that U.S. initial claims for state unemployment benefits dropped 11,000 to a seasonally adjusted 239,000 for the week ending Aug. 12. Economists had forecast 240,000 claims for the latest week.

The Philadelphia Fed manufacturing index rose to 12 in August from negative 13.5 in July. Any reading above zero indicates expanding activity. This is the first positive reading after 11 straight months of contraction.

Silver for September delivery rose 18 cents, or 0.80 percent, to close at 22.715 dollars per ounce. Platinum for October delivery rose 4.30 dollars, or 0.48 percent, to close at 895.60 dollars per ounce. 

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