Gold fell on Thursday as upbeat US jobless claims data and weaker crude oil prices sent prices below a two-month high hit earlier this week, and a lack of investment interest could further pressure the precious metal, traders said. Bullion fell as US consumer spending rose less than expected in May, prompting economists to downgrade estimates for second-quarter growth.
Spot gold was down 0.3 percent at $1,315.16 an ounce by 2:19 pm EDT (1819 GMT). US COMEX gold futures for August delivery settled down $5.60 an ounce at $1,317, with trading volume about 10 percent below its 30-day average, preliminary Reuters data showed. Among other precious metals, silver was up 0.4 percent at $21.06 an ounce, outperforming gold. Spot platinum gained 10 cents to $1,464.50 an ounce, while spot palladium climbed 0.2 percent to $831.40 an ounce.
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