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 Contracts for gold on Thursday were trading solidly higher after reports on the U.S.s economic recovery from the COVID pandemic. U.S. retail sales minus autos & gas rose 8.2% in March and U.S. initial jobless claims fell to 576,000 in the latest week. June gold traded 0.7% higher at $1,749.10 an ounce on Comex.
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Applications for jobless claims have been stubbornly high for months, but reopenings have bolstered confidence in a dynamic recovery.
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Jobless claims, a proxy for layoffs, fell to 576,000 last week from 769,000 a week earlier.
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