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2016.07.2113:58:00UTC+00Gold Trims Recent Losses As ECB Stands Pat

Gold futures nudged higher Thursday after the European Central Bank vowed to keep rates unchanged for the forseeable time.

European Central Bank President Mario Draghi: "Following the UK referendum on EU membership, our assessment is that euro area financial markets have weathered the spike in uncertainty and volatility with encouraging resilience."

Stocks fell from record highs today, giving gold a bit of a boost.

August gold settled at $1,331/oz, up $11.70, or 0.9 percent. Prices touched 3-week lows in the previous session.

Initial jobless claims in the U.S. unexpectedly saw a slight drop in the week ended July 16th, according to a report released by the Labor Department on Thursday.

The report said jobless claims edged down to 253,000, a decrease of 1,000 from the previous week's unrevised level of 254,000.

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