Gold holds close to one-week minimum ahead of US data

On Thursday, gold prices soared during Europe's trading session, though remained close to a one-week minimum as investors looked ahead to more American economic data for clues on the probability of a December rate lift.

In New York, December delivery gold futures tacked on 0.12%, hitting $1,325.30 per troy ounce. By the way, on Wednesday, gold prices sank to $1,321.10, a value not seen since September 21.

Data due on Thursday will come with weekly jobless claims, the final look at second-quarter GDP as well as the trade deficit.

Financial markets are currently pricing in approximately a 57% likelihood of a rate lift at December's gathering, according to Fed Rate Monitor Tool.

Meanwhile, in the currency market, the US dollar index, gauging the greenback's value against six major currencies, soared 0.1%, hitting 95.41 early on Thursday.

Against the Japanese yen, the greenback ascended 0.8%, trading at 101.50, thus extending its rebound from one-month minimum of 100.06 achieved last week.

Scroll to top