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Gold futures finish sharply higher after US jobs data

17 Nov 2023 Evaluate
Gold futures finished sharply higher on Thursday, as the larger than expected US weekly job claims and woes over global economic health spurred safe haven appeal of the bullion. The weekly jobless claims rose from 13,000 to 231,000, posting three-month high level. This also supported end of Fed interest rate hike bets buoying yellow metal investment appeal. Besides, softer dollar against its peers also backed bullish bets.

Gold futures for December delivery rose by $23 or 1.17% to settle at $1987.30 ounce on the Comex division of the New York Mercantile. While, spot gold rose by $5.42 points or 0.27% to $ 1,986.32 per ounce.
 

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