Gold returns higher towards $2400

Economies.com
2024-04-18 18:59PM UTC

Gold prices rose on Thursday as the dollar advanced against most major rivals amid mounting geopolitical tensions in the Middle East. 

 

Earlier US data showed unemployment claims stabilized at just 212 thousand last week.

 

Otherwise, IMF Director Christalina Georgiva said to Bloomberg she still sees a possibility of a Fed interest rate cut this year, however she supported the Fed’s decision to hold off rate cuts for the time being. 

 

Otherwise, the dollar index rose 0.2% as of 18:48 GMT to 106.1, with a session-high at 106.1, and a low at 105.7. 

 

Gold spot prices rose 0.4%, or $9.7 as of 18:48 GMT to $3398.1 an ounce. 

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