2014.04.2415:00:00UTC+00Gold Ends Higher On Ukraine Tensions, Economic Data

Gold futures ended at a one-week high for a second straight session, with investors continuing to opt for the safe haven of the precious metal as tensions in Ukraine intensified, after some mixed U.S. economic data with weak initial claims for unemployment benefits.

Gold for June delivery, the most actively traded contract, gained $6.00 or 0.5 percent to close at $1,290.60 an ounce on the Comex division of the New York Mercantile Exchange on Thursday.

Gold for April delivery scaled an intraday high of $1,299.00 and a low of $1,268.40 an ounce.

On Wednesday, gold futures ended higher, snapping a three-day straight loss, with weak U.S. home sales data and escalating tensions in Ukraine prompting investors to go in for the safe haven investment.

Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, remained unchanged at 792.14 tons on Thursday from its previous close of 794.14 tons.

The dollar index, which tracks the U.S. unit against six major currencies, traded at 79.79 on Thursday, down from its previous close of 79.86 late Wednesday in North American trade. The dollar scaled a high of 79.97 intraday and a low of 79.75.

The euro traded higher against the dollar at $1.3830 on Thursday, as compared to its previous close of $1.3817 late Wednesday in North America. The euro scaled a high of $1.3842 intraday and a low of $1.3792.

In economic news from the U.S., the Commerce Department said durable goods orders jumped 2.6 percent in March, the biggest rise in four months. Economics expected durable goods orders growth of 2 percent month-over-month.

Meanwhile, the U.S. Labor Department's report showed initial jobless claims to have jumped by 24,000 to 329,000 last week, a three-week high. Economists expected claims to rise to 313,000 from 304,000 in the previous week.

Sentiment among German firms improved unexpectedly in April with businesses more confident about their future activities, notwithstanding risks from the Ukraine crisis. Business confidence rose to 111.2 in April from 110.7 in March in a survey among 7,000 firms, data from the Munich-based Ifo Institute showed Thursday. The index was forecast to fall to 110.4. The current conditions index improved to 115.3 from 115.2 in March, but below the expected score of 115.6.