Gold futures finished sharply higher on Wednesday, marking its four-week high level, kindled by the interest rate cut bets followed by rise in US jobless claims for the ninth straight week. While, June private payrolls grew at a slower rate. Sluggish June US economic data also supported interest rate cut lifting yellow metal investment appeal. Softer dollar and Treasury bond yield notes also lifted precious metal investments.
Gold futures for August delivery rose by $36 or 1.5% to $2,369.40 per ounce on the Comex division of the New York Mercantile. While, spot gold up by $ 1.70 or 0.07% to $ 2,357.90 an ounce.