Gold down in New York

Gold fell on Thursday as the dollar cut losses on US data that showed growing economic momentum, but support came from signs the Federal Reserve was unlikely to raise interest rates in June. The number of Americans filing new claims for unemployment benefits rose slightly more than expected last week, data on Thursday showed. But the four-week moving average of claims, considered a better measure of labour market trends as it irons out week-to-week volatility, fell 5,500 last week to 266,250. That was the lowest level since April 2000.
Spot gold was down 0.3 percent at $1,205.28 an ounce by 2:43 pm EDT (1843 GMT), while US gold futures for June delivery settled down 0.4 percent at $1,204.10 an ounce. "We had a good run-up and every rally is seen as an opportunity to take profits" in the last 18 months, Ross Norman, chief executive of broker Sharps Pixley, said. "The market remains elastic, (with) good buying on the dips and selling on the rallies." Silver was up 0.2 percent at $17.12 an ounce, while platinum was down 0.3 percent at $1,150.58 an ounce. Palladium rose 0.8 percent to $778.22 an ounce.