Gold futures finished sharply higher on Thursday, extending winning streak to third straight session, as the softer than expected US July CPI data bolstered September Fed interest rate cut. Headline inflation subdued to a one-year low by 3% in June, while the annual core numbers declined to a three-year low by 3.3%. Weaker dollar also buoyed third currency investments in greenback denominated precious metal.
Gold futures for August delivery rose by $42.20 or 1.7% to $2,421.90 per ounce on the Comex division of the New York Mercantile. While, spot gold dipped by $5.82 or 0.24% to$2,409.66 an ounce.