Gold continues to rise on higher US inflation concern

Chicago: Gold futures on the COMEX division of the New York Mercantile Exchange continued to rise on higher US inflation concern.

The most active gold contract for December delivery rose $15.6, on Thursday or 0.84 per cent, to close at $1,863.9 per ounce.

Gold futures climbed for the sixth straight session on Thursday and settled at their highest since June 14, Xinhua news agency reported.

MS Education Academy

Market analysts hold that if gold prices hold near 1,850 dollars this week, new investor inflows are likely to materialize and 1,900 dollars could be the next upside target.

Silver for December delivery rose 52.9 cents, or 2.14 per cent, to close at $25.301 per ounce. Platinum for January delivery rose $17.5, or 1.62 per cent, to close at $1,094.5 per ounce.

Subscribe us on The Siasat Daily - Google News
Back to top button