NEW YORK (TheStreet) -- Gold prices were trading slightly higher Thursday after unchanged weekly initial jobless claims failed to suggest a strengthening economy ahead of the economic summit in Jackson Hole, Wyo.

Gold for December delivery was gaining $2.10 to $1,665.10 at the Comex division of the New York Mercantile Exchange. The gold price traded as high as $1,666.70 and as low as $1,656.70 an ounce, while the spot price was up $6.40, according to Kitco's gold index.

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"Today's initial jobless figures of 374,000 is again bad news for the economy good news for gold in that immediate reaction of no changes in interest rates even if [Ben] Bernanke gives no hard news tomorrow keeps investors from selling," George Gero, precious metals strategist at RBC Wealth Management, wrote in a note on Thursday.

Silver prices for September delivery were down about 3 cents to $30.81 an ounce, while the U.S. dollar index was down 0.12% to $81.44.

Weekly initial jobless claims remained unchanged at 374,000 on Thursday morning, and maintained a prolonged weakness in labor markets. The Federal Reserve has repeatedly stated it would consider additional monetary action on the strength of the economy, including the forward-looking sentiment in the labor market.

Investors though, are waiting for central bankers to meet Friday for a summit in Jackson Hole. Though many analysts don't expect to see any Fed easing at this meeting, there is still a hope as it was at this meeting two years ago when Bernanke announced QE2.

Gold gains took a reprieve Wednesday after second-quarter GDP was revised up to 1.7% from 1.5%.

"The upward revision was to 1.7% ... And the markets took this as positive news, and decided that they didn't need Gold anymore," Chuck Butler, president of world markets at EverBank, wrote in a note on Thursday.

Gold mining stocks were slightly higher Thursday. Goldcorp(GG_) was gaining 0.68%, while Eldorado Gold(EGO_) was rising 0.86%.

Among other mining stocks, Barrick Gold(ABX_) was up 0.24%, while Yamana Gold(AUY_) was gaining 0.24%. Kinross Gold(KGC_) was gaining 0.35%.

-- Written by Joe Deaux in Tampa, Fla.

Source: http://www.thestreet.com/story/11680644/1/gold-prices-rise-on-flat-jobless-claims.html?cm_ven=GOOGLEN