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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.
