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Gold futures continued to fall Thursday morning, hitting 2018 lows as the U.S. dollar rallied.

August gold dropped $8 at $1265 an ounce, extending this week's signficant losses.

Overseas, the Bank of England decided to keep the key interest rate unchanged, in a split vote, and stood unanimous on quantitative easing.

At the Monetary Policy Committee meeting, members voted 6-3 to maintain the benchmark rate at 0.50 percent.

On the U.S. economic calendar, jobless claims are due momentarily and Fed regional president Neel Kashkari speaks this afternoon.

Yesterday, the National Association of Realtors released a report showing an unexpected decrease in existing home sales in the month of May.

NAR said existing home sales fell by 0.4 percent to an annual rate of 5.43 million in May after plunging by 2.7 percent to a downwardly revised 5.45 million in April.