Gold futures finished higher on Thursday, marking the 32nd record high settlement of the year so far, as weakness in dollar and sliding bond yield notes supported yellow metal investments. Additionally, rise in safe haven appeal with the lingering global geopolitical tensions, underwhelming earnings from AI leader Nvidia Corporation and a potential Fed interest rate cuts also kindled investment appeal of the bullion. Meanwhile, the US Q2 GDP indicated a climb of about 3%, higher than previously projected 2.8%, and the core PCE price indices were revised down slightly to a 2.8% increase from the initial estimate of a 2.9% gain.
Gold futures for December delivery up by $22.50 or 0.87% to $ 2,560.30 per ounce on the Comex division of the New York Mercantile. While, spot gold down by $8.18 or 0.32% to settle at $2,513.22 an ounce.