Gold futures settled at a nearly five-week low on Thursday, with prices dropping below the support level of $1,180 an ounce after data showed the number of workers making first-time claims for jobless benefits fell again.Gold for August delivery on Comex GCQ5, +0.15% lost $9.70, or 0.8%, to settle at $1,175.20 an ounce. That was the lowest settlement for a most-active contract since May 1.
July silver SIN5, +0.23% fell 37.7 cents, or 2.3%, to $16.103 an ounce.
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