Gold futures settled higher for sixth consecutive session on Thursday, kindled by the weakness in dollar and US Treasury bond yield notes. Moreover, Federal Reserve Chair Jerome Powell’s indication that the central bank might trim interest rates after signs of moderating inflation prove sustainable. Meanwhile, US weekly initial jobless claims came slightly higher than expected, while labor costs for Q4 were revised downwards.
Gold futures for April delivery rose by $7 or 0.32% to settle at $2165.20 per ounce on the Comex division of the New York Mercantile. While, spot gold dipped by $3.16 points or 0.15% to $2,156.82 ounce.