Gold Extends Best Rising Streak in a Year

Gold prices rose on Thursday, recovering from a brief earlier decline, extending its rising trend to the sixth consecutive session.

This is the longest rising streak for the yellow metal contracts since the beginning of the year.

Gold is maintaining its gains despite the improvement in risk sentiment, as evident by the recovery of stock markets, however, inflation fears seem to continue to provide support to the safe haven asset.

Gold futures for June gained 40 cents to close marginally higher at $1,881.90 per ounce, hitting a fresh best closing level in about four months, since January 7.

Sixth straight daily gains are the longest string of positive performances for the yellow metal futures since the end of July 2020.