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Gold Futures See Gains Comments Saitama Rakuten International

Gold prices scored their first gain in four sessions on Thursday noted researchers from Saitama Rakuten International as investors looked to data on the economy for cues on the precious metal’s outlook.

Gold for February delivery US: GCG4 tacked on $3.90, or 0.3%, to settle at $1,229.40 an ounce on the Comex division of the New York Mercantile Exchange after touching lows under $1,223. Prices had tallied losses of roughly 1% over the past three trading sessions.

Saitama Rakuten International analysts noted that the initial jobless claims for the week ended Jan. 4 dropped by 15,000 to 330,000, a five-week low, according to data released Thursday. Upbeat economic data tends to dull gold’s appeal as a safe-haven investment. Gold prices had been struggling to establish a direction for much of the trading session.

Minutes from the December Fed meeting released Wednesday showed central-bank officials were in broad agreement over last month’s decision to start reducing the asset-purchase program, as most believed the policy was losing its punch.

In a recent interview with Son Jun-Ho, Research Director at Saitama Rakuten International. He commented saying he could see positive economic growth throughout the year.

READ: Saitama Rakuten International Says Nike Jumps 13% In Sales For Its Last Quarter

He added "gold might not be favourable amongst those short to medium term investors as a strong US economy will result in investors remaining invested within equities and will use the increase in gold prices to exit their gold investments".

Elsewhere in metals trading, platinum for April delivery US: PLJ4 added $5.70, or 0.4%, to $1,419.90 an ounce, while March palladium US: PAH4 inched down $1.80, or 0.2%, to $736.50.

High-grade copper for March delivery HGH24 shed 4 cents, or 1.3%, to $3.30 a pound.

Metals-mining companies traded mostly lower, tracking overall losses among equities.

The Philadelphia Gold and Silver Index XAU fell 1.2%. Among the standouts, Allied Nevada Gold Corp. US: ANV saw its stock rally 10% after the company reported record sales and production levels for the fourth quarter and full year 2013.

For more information please visit Saitama Rakuten International.

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