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Gold spot market price movement in the range of $1737.21 per troy ounce

Gold spot market price movement has declined slightly to trade in the range of $1737.21 per troy ounce, a decrease of 0.7 percent from the previous trading session based on disappointing news of increased jobless claims in the United States rising to 402,000. On Wedensday, spot market gold prices increased 1.8 percent following announcements of central banks’ coordinating actions to provide liquidity in the European financial structure. November closed with spot market gold prices increasing by 1.9 percent.

Gold investors and central bank observers may be anticipating the United States non-farm payrolls report on Friday as a market catalyst. Strong data on Friday could soften gold prices; however, if the data fails to meet expectations gold prices would likely demonstrate stronger valuations.