After 15 weeks of being trapped in the claws of $1700 pricing or lower, Gold futures rebounded above $1800 key benchmark and finished near five-month high level on Thursday. Sharp correction in dollar and US Treasury Bond yield notes kindled yellow metal futures to mark sharpest gain in more than two years. Fed Chairman Jerome Powell's affirmation of slowing pace of interest rate hike from next month also gained bullion's lusture. Additionally, US inflation gauge rose by 0.3% in October, marking dip of yearly rate of inflation by 6%, pointing more chances for dovish monetary policy by the US Central Bank.
Gold futures for December soared by $55.30 or 3.10% to settle at $1815.20 ounce on the Comex division of the New York Mercantile. While, spot gold declined by $5.17 or 0.29% or $1,797.93 per ounce.