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Gold Rises Amid Weaker Risk Appetite

M. Ali 27 August, 2021 2:58 am Commodities, Market Update

Gold prices rose on Thursday, because of the higher demand for safe-haven assets with a slump in risk appetite, as investors anticipate the upcoming speech by the U.S. Federal Reserve Chair Jerome Powell in an economic forum on Friday.

The front-month gold futures added $4, or 0.22%, to finish at $1,792.20 per ounce.

The yellow metal, which rose for four of the past five sessions, is still struggling to restore the $1,800 key level and is down month-to-date by 1.13%.

In addition, gold futures rose despite the U.S. Dollar (USD) rising for the first time in five sessions.

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