Silver jumps over 5%, closes above $28
Silver prices soared on Thursday, as the US dollar slipped against most currencies, and ahead of the US monthly jobs report.
The US Department of Labor revealed today that the unemployment claims fell to 1.18 million during the past week.
This comes ahead of the monthly jobs report on Friday, amid expectations for the addition of 1.5 million jobs in July, and the unemployment rate to fall.
The dollar index fell against a basket of currencies by 0.1% to 92.7 points as of 21:00 GMT, after it hit a high of 93.08 and a low of 92.5.
Silver September futures rose 5.6% or $1.51 to close at the highest level since 2013 of $28.40 an ounce, after gaining 3.3% yesterday, with a day high of $29.2 and a low of $26.9.
Gold extends record-breaking rally, closes higher for 5th straight session
Gold prices rose on Thursday, to extend the record-breaking rally for the fifth straight day, as the US dollar fell against most currencies.
This comes ahead of the monthly jobs report on Friday, which provide better insight on the state of the US labor market, amid expectations for the addition 1.550 million jobs in July, and the unemployment rate to fall to 10.5%.
The dollar index fell against a basket of currencies by 0.1% to 92.7 points as of 18:26 GMT, after it hit a high of 93.08 and a low of 92.5.
Gold December futures rose 1% or $20.1 to close of $2,069.4 an ounce (the all-time highest close), after hitting a day high of $2,081.8 and a low of $2,049.
Dollar slips ahead of US jobs report
The US dollar slipped against most currencies on Thursday, as focus shifted to the upcoming US jobs report due on Friday.
The US Department of Labor revealed today that the unemployment claims fell to 1.18 million during the past week.
This comes ahead of the monthly jobs report on Friday, which provide better insight on the state of the US labor market, amid expectations for the addition 1.550 million jobs in July, and the unemployment rate to fall to 10.5%.
Coronavirus infections rose to 19 million confirmed cases globally, with a death toll of more than 700,000 victims, according to John Hopkins University data.
The dollar index fell against a basket of currencies by 0.1% to 92.7 points as of 17:26 GMT, after it hit a high of 93.08 and a low of 92.5.
US crude gives up gains, turns lower
Oil prices saw mixed performance on Thursday, as the US crude gave up its early gains, despite the US dollar falling against most major currencies.
The US Energy Information Administration (EIA) showed today that the US crude inventories fell 7.4 million barrels during the past week, beating forecasts of a drop by 4 million barrels.
The dollar index fell against a basket of currencies by 0.1% to 92.8 points as of 17:26 GMT, after it hit a high of 93.08 and a low of 92.5.
As of 17:19 GMT, West Texas Intermediate crude fell 0.4% to $42.03 a barrel, after it hit a high of $43.6 and a low of $41.6.
Brent rose 0.1% to $45.2 a barrel, with a high of $45.7 and a low of $44.8.