A slight rise in gold prices globally after economic data


Mubasher: Gold prices trimmed their rise globally during Thursday’s trading, with rising bond yields and after economic data.

The precious metal rose significantly earlier in trading with the decline in the dollar, but the rise in US bond yields continues to put pressure on gold.

Economic data showed, Unemployment claims rise in the United States Contrary to analysts’ expectations.

While US home start-ups declined for the first time since August, house prices in the US rose at the most monthly pace since 2012.

By 3:50 pm GMT, the price of gold futures contracts for April delivery rose by 0.1 percent, to reach $ 1,774.50 an ounce, after hitting the level of $ 1,788 an ounce earlier in trading.

The spot price of the yellow metal rose 0.1 percent to $ 1778.79 an ounce.

During the same period, the main dollar index, which measures the currency’s performance against 6 major currencies, rose by 0.3 percent to the level of 90.74.


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