Gold rises as dollar turns lower

Gold futures rose on Thursday, as investors anticipate the release of key US data, while the US dollar fell against most of its peers.

US Labor Department will reveal the number of initial unemployment claims for last week, after its fell to its lowest level since the start of the pandemic.

ADB data showed today that the US private sector added 742K new jobs in April, the largest monthly rise since September, missing forecasts of 872K.

The data comes two days ahead of the US Labor Department's monthly jobs report for April next Friday, which provides key insight on the US labor market.

The dollar index fell against a basket of currencies by 0.3% 91.03 points as of 11:15 GMT, after it hit a high of 91.3 points and a low of 91.00 points.

Gold June futures rose 0.9.6% or $9.6 to $1,793.9 an ounce as of 11:52 GMT, with a day high of $1,795.9 and a low of $1781.8.