Arab Today, arab today gold futures rise for 2nd session in a row
Last Updated : GMT 18:20:30
Arab Today, arab today
Arab Today, arab today

Gold futures rise for 2nd session in a row

Arab Today, arab today

Arab Today, arab today Gold futures rise for 2nd session in a row

Chicago - XINHUA

Gold futures on the COMEX division of the New York Mercantile Exchange extended gains for the second session in a row on Thursday, climbing back to their highest settlement in more than four months. The most active gold contract for April delivery rose 11.5 U.S. dollars, or 0.86 percent, to settle at 1,351.8 dollars per ounce. Statistics show, it is the highest settlement for a most-active contract since Oct. 28. Traders were looking for clues about U.S. Federal Reserve's next move on its monetary policy, ahead of Friday's U.S. monthly jobs report, market analysts said. In an interview with The Wall Street Journal, New York Fed President William Dudley said the Fed doesn't need to raise short- term rates quickly as the economy is still facing headwinds that are likely to persist. In addition, the European Central bank (ECB) left its interest rates unchanged Thursday and the ECB's President Mario Draghi continued to brush off the threat of deflation, which lowered the chance of further easing in the short term. That contributed to a boost in the euro, which put pressure on the U.S. dollar. A weak U.S. dollar lured foreign buyers into the market for the precious metal. Silver for May delivery rose 30.3 cents, or 1.42 percent, to close at 21.574 dollars per ounce.

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