MarketWatch/Rachel Koning Beals/04-27-17
Gold managed a slim gain early Thursday, on track to snap a three-day slide and pulling futures up from a 2 ½-week low.
…A report showing a climb to one-month highs for weekly jobless benefit claims proved mildly supportive for gold, should a slowdown in the labor market prompt a pause in expected Federal Reserve rate hikes. But the metals market reaction to the data was muted at best.
…“No new drum beat or drama in today’s ECB announcement. The French election has them on a tight leash. We expect the ECB will have zombie-like moves even after the French elections. They cannot afford to jeopardize their hard labor,” said Naeem Aslam, analyst with Think Markets. The uncertainty could keep a floor under haven gold.
