Gold closes above $1,900 anew

Economies.com
2020-10-01 19:56PM UTC

Gold prices rose on Thursday, as the US dollar slipped against most of its rivals, which buoyed the yellow metal to post the highest close in 2 weeks.

 

Data showed today the US unemployment claims fell around 36,000 to 837,000 during the past week, while personal income index fell 2.7%, while the ISM manufacturing PMI fell to 54.6 points in September from the 21-month high of 56 points of August.

 

The market is anticipating the monthly jobs report tomorrow, amid expectations that the creation of 900,000 jobs in September vs. 1.371 million jobs in August, and for the unemployment rate to drop to 8.2% from 8.4%. 

 

The dollar index fell against a basket of currencies by 0.1% to 93.7 points as of 20:44 GMT, after it hit a high of 93.9 and a low of 93.5.

 

Gold December futures rose 1.1% or $20.80, to post the highest close since September 18 at $1,916.30 an ounce, with a day high of $1,917.9 and a low of $1,890.

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