Gold and silver were moving higher in Thursday morning trading. Greek government leaders reportedly have agreed to additional austerity measures that meet eurozone “Troika” requirements, and the latest weekly U.S. unemployment figures continue to show strength in hiring.

After moving lower in Asia-Pacific trading, spot gold was 0.8% higher, bid at $1,746.40 per ounce with an ask price of $1,747.40. Spot gold traded as high as $1,754.10 and as low as $1,731. The London afternoon fixed reference price came in at $1,748, $2 per ounce higher than Wednesday’s price fix, according to Kitco market data.

Spot silver was showing a gain of 0.7% per ounce, bid at $34.18 with an ask price of $34.28. The morning high as of time of writing was $34.55 and the low was $33.75. Thursday’s reference price was set at $33.80 in the London a.m., 57 cents per ounce below Wednesday’s reference price fix.

Greece’s deal is coming just hours ahead of an emergency meeting of eurozone finance ministers in Brussels today, and paves the way for $172 billion in emergency funding that needs to be in place before a $19 billion Greek government bond redemption March 20.

Weekly initial claims for unemployment insurance benefits fell 15,000 to a seasonally adjusted 358,000. The four-week moving average fell to 366,250, its lowest since April 2008. A consistent reading below 375,000 “usually signals that hiring is strong enough to lower the unemployment rate,” the Los Angeles Times reports.

Gold bullion prices fell in Thursday morning London trading before regaining most of the lost ground and were around $1,730 per ounce at lunchtime, BullionVault reports in its London Gold Market report.

While the latest steps the ECB has taken to add to eurozone banks’ long-term liquidity — the Long-Term Refinance Operation — have successfully alleviated the strains on borrowing and lending that had been building up in the money market, its potential to fuel inflation down the line is supportive of gold and silver.

“The growing consensus among central bankers is that their experiment with QE is still working,” Fulcrum Asset Management ‘s Gavyn Davies wrote in Financial Times. “It was a shot in the dark, and a rather desperate one at that. But up to now it has had the desired effect, which is certainly a far better outcome than the alternative.”

Gold and silver trusts were moving higher in stock exchange trading.

• The SPDR Gold Trust (NYSE:GLD) was up around 0.8%.
• The iShares Gold Trust (NYSE:IAU) was showing gains of more than 0.75%.
• The iShares Silver Trust (NYSE:SLV) was moving higher, up about 0.75%.

Gold and silver mining ETFs also were moving lower higher.

• The Market Vectors Gold Miners ETF (NYSE:GDX) was around 0.7% higher.
• The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) was showing gains around 1.6%.
• The Global X Silver Miners ETF (NYSE:SIL) was making marginal gains.

Gold mining shares were moving higher mostly in tandem, though Yamana Gold (NYSE:AUY) was leaning toward slight losses.

• Agnico-Eagle Mines (NYSE:AEM) was showing smallish gains around 0.15% or less.
• Barrick Gold (NYSE:ABX) was up some 0.7%.
• Eldorado Gold (NYSE:EGO) was up around 0.5%.
• Goldcorp (NYSE:GG) was up 0.8% and more.
• Kinross Gold (NYSE:KGC) was more than 0.6% higher.
• Newmont Mining (NYSE:NEM) was up about 0.2%.
• NovaGold Resources (AMEX:NG) was showing gains of more than 1.4%.
• Yamana Gold was unchanged to down less than 0.1%.

Silver mining shares also were participating in the broad-based move higher.

• Coeur d’Alene Mines (NYSE:CDE) was moving higher, up nearly 0.3%.
• Hecla Mining (NYSE:HL) was around 0.75% higher.
• Pan American Silver (NASDAQ:PAAS) was showing gains of more than 1%.
• Silver Wheaton (NYSE:SLW) was up more than 0.5%.
• Silver Standard Resources (NASDAQ:SSRI) was showing gains of around 0.1%.

As of this writing, Andrew Burger did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault contributed to this report.