Gold Closes Higher as Risk Appetite Fades

Gold futures for July delivery rose on Thursday, amid a deterioration in the risk appetite among investors after data showed a surge in jobless claims in the U.S., promoting more concerns about the recovery from the pandemic.

The yellow metal’s gains also come amid fluctuations by the U.S. Dollar (USD) against major peers and a decline in Treasury bond yields.

Gold front month futures rose by $2.10 or 0.12% to $1,805 per ounce.

For the month, gold contracts are up by about 1.93%.