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Gold Futures Edge Higher During Asian Trading Session
Gold futures traded higher during the Asian session on Thursday, supported by steady investor demand and a softer US Dollar.
On the Comex division of the New York Mercantile Exchange, gold futures for June delivery were trading at USD 4,703.64 per troy ounce at the time of writing, up 0.20% on the day.
The precious metal previously touched an intraday high during the session, with analysts closely watching key technical levels. Gold is expected to find support at USD 4,510.10, while resistance is seen near USD 4,733.86.
Meanwhile, the US Dollar Index Futures, which measures the greenback against a basket of six major currencies, slipped 0.01% to trade at USD 97.89, providing additional support for bullion prices.
In other metals trading on Comex, silver futures for July delivery climbed 1.06% to USD 78.12 per troy ounce. Copper futures for July delivery also moved slightly higher, gaining 0.02% to trade at USD 6.19 per pound.