After three consecutive days of gains, Gold is down $6 today

Gold is down to $1,839.4 per ounce, after ending yesterday at $1,845.4. Overall, a 0.33% loss or $6 today.

Initial Jobless Claims data from United States will be released today at 13:30 UTC with analysts expecting a decline to 195,000. Potentially significant price fluctuations in Gold are expected to follow.

Highly important Crude Oil Inventories data from United States beat analyst expectations of 457,000 with a reading of 1.17 million.

While price action maintains a negative bias, United States ISM Manufacturing PMI (Feb) released yesterday at 15:00 UTC with a figure of 47.7, while the previous figure was 47.4. United States Cushing Crude Oil Inventories released yesterday at 15:30 UTC with a figure of 307,000, while the previous figure was 700,000.

In the meantime, negative performances are also seen in other Metals as Copper goes down 0.69% to trade around $4.13. Platinum closed at $957.2 (down 0.48%). After ending yesterday's session at $21.09, Silver lost 9.5 cents and is trading around $21.

Some optimism can drawn from the fact that United States Initial Jobless Claims projected to decline to 195,000 while previous data was 192,000; data will be released today at 13:30 UTC.

Furthermore, United States ISM Non-Manufacturing PMI (Feb) is expected tomorrow at 15:00 UTC.

The commodity has been trending lower for about 29 days. Gold is up 13.68% from the significant low of $1,623.3 it hit 5 months ago.