Gold futures finished sharply lower on Thursday, retreating from five week high earlier in the session, after initial jobless claims unexpectedly surged to a nearly two-month high pointing risks of weakening labor market. Moreover, firmness in dollar and rising bond yield notes dulled the yellow metal rates.
Gold futures for February delivery plunged by $47.30 or 1.7% to settle at $2,709.40 per ounce on the Comex division of the New York Mercantile. Spot gold up by $7.29 or 0.27% to $2,688.02 an ounce.
Start Research-backed Investing ...Now. Subscribe to Sapphire
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: