© Archyde.com. Gold rises at the settlement after US economic data
Gold prices rose at the settlement of Thursday’s trading, after the release of economic data in the United States.
The rise of the precious metal came with the decline in the yield on the two-year term to 4.61%, in addition to a decline in the price of gold.
Today’s data showed that the number of US initial jobless claims declined last week, indicating the continued strength of the labor market in the world’s largest economy.
Separate data also revealed that the producer price index in the United States rose 0.7% in January on a monthly basis, exceeding expectations of 0.4%.
Upon settlement, April delivery rose 0.4%, or $6.50, to $1851.80 an ounce.
While the dollar index, which monitors the performance of the US currency against a basket of six major currencies, decreased slightly by 0.07%, at 103.850 points at 9:51 pm Mecca Al-Mukarramah time.
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