21.07.201708:00:00UTC+00Gold Inches Above $1250 In Thin Trade

Gold futures rose further Friday morning on what should be one of the more uneventful days of the summer.

With no first-tier economic data on tap, traders will be paying attention to the stock market. A run to record highs for the Nasdaq is in jeopardy, stock futures indicate.

Gold was up $2 at $1252 an ounce, extending strong recent gains. Gold is on track for a fourth straight weekly advance due to a weak U.S. dollar and concerns about the global economy.

Yesterday, a report released by the Labor Department on Thursday showed a much bigger than expected decrease in first-time claims for U.S. unemployment benefits in the week ended July 15th.

Initial jobless claims fell to 233,000, a decrease of 15,000 from the previous week's revised level of 248,000.