(Kitco News) - World stock markets were mixed to firmer in lackluster trading overnight, ahead of several important U.S. economic reports due for release today. U.S. stock indexes are pointed toward slightly higher openings when the New York day session begins.
U.S. economic data due for release Thursday includes the weekly jobless claims report, the consumer price index, real earnings, the Philadelphia Fed business survey, and new residential construction. Fed Chair Janet Yellen speaks on the U.S. economy before the U.S. Congress today, too.
Gold prices are higher on short covering and bargain hunting as the outside markets are supportive for the precious metals on this day.
The key outside markets on Thursday find the U.S. dollar index trading weaker on a corrective pullback after hitting a 13-year high on Wednesday.
Nymex crude oil prices are firmer as the marketplace debates OPEC's ability to cut its collective crude oil output ahead of the cartel's Nov. 30 meeting.
In overnight news, U.K. retail sales in October rose at the fastest pace in
15 years, at up 7.4%, year-on-year. A 5.3% rise was expected. The Euro zone October consumer price index was up 0.1% from September and up 0.8%, year-on-year. The CPI numbers were generally in line with market expectations.
Overnight spot gold on Kitco.com traded to a session high of $1,232 and ounce and a session low of $1,224.80 an ounce.
By Jim Wyckoff, contributing to Kitco News; [email protected]
Follow Jim Wyckoff @jimwyckoff for breaking market news.