Gold futures on the COMEX Division of the New York Mercantile Exchange declined for 1st session in three Thursday after hitting a new 18 month high, Silver and Platinum both ended the session lower. Gold price for December delivery fell US$6.70, or 0.7%, to finish at US$1,013.50oz. During the exciting session the contract touched as high as US$1,025.80 as it charges North to the all time high of US$1,033.90 hit last March. A recovering USD in the late session also weighed on Gold. The dollar index, a gauge measuring the greenback’s value against six other major currencies, rose to 76.334 from the earlier low of 76.055 by the end of Gold floor trading time. Gold, which is used as a hedge against a weak dollar and inflation, has rallied recently as the greenback keeps falling against other major currencies. On economic front, the US Labor Department said workers filing for first jobless benefit claims dipped to 545,000 last week from an upwardly revised 557,000 the previous week, compared with economists’ expectations of increase. December silver finished at US$17.265 oz, down 16.5 cents, October Platinum lost US$8.60 to US$1341.50 oz.
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