Gold futures traded higher in early deals of Thursday, kindled by the heightened expectations Federal Reserve interest rate cut bets after slower than expected US retail sales data. Meanwhile, investors keenly focused on weekly jobless claims due later in the day and flash purchasing managers' indexes on Friday for more insights on the economic strength of the country. The US stock market was closed yesterday for Juneteenth holiday.
Gold futures for August delivery up by $1.90 or 0.08% to $2348.80 per ounce on the Comex division of the New York Mercantile. While, spot gold rose by $8.32 or 0.36% to $2,336.48 an ounce.