Gold advanced before a report today that may show U.S. jobless claims increased, potentially delaying moves by the Federal Reserve to slow the pace of bond purchases. Silver and platinum climbed.
Gold tumbled 23 percent this year amid speculation the Fed will wind down its quantitative-easing program. Fed Bank of Cleveland President Sandra Pianalto said yesterday there has been “meaningful improvement” in the labor market and tapering may be warranted if it continues to strengthen. Jobless claims rose to 335,000 last week, after falling to a more than five-year low in the previous week, according to the median of estimates compiled by Bloomberg.
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