Gold futures finished sharply higher on Thursday, kindled by the weakness in dollar and easing bond yield notes followed by expectations over Fed interest rate cut next week. As per reports markets expects a 59% chance of a 25 bps cut and a 41% chance of a 50 bps reduction, after softer US labor number, and slight rise in US producer prices.
Gold futures for December delivery surged by $32.20 or 1.40% to settle at $2,580.60 per ounce on the Comex division of the New York Mercantile. While, spot gold rose by $11.43 or 0.45% to settle at $2,569.33 an ounce.