Gold futures finished higher for eighth straight session on Thursday, driven by the plunge in dollar, along with elevated economic and geopolitical uncertainty. Sustained central bank buying, renewed criticism of the Federal Reserve’s independence, tariff threats and fear of the US government shutdown boosted safe have appeal of the precious metal.
Gold futures for February delivery up by $14.80 or 0.28% to $5,318.40 an ounce on the Comex division of the New York Mercantile. However, spot gold plunged by $182.61 or 3.40% to $5,192.63 an ounce.