Gold Futures Rise During European Trading Session
Gold futures traded higher during the European session on Thursday, supported by a weaker US dollar and growing investor interest in safe-haven assets.
On the Comex division of the New York Mercantile Exchange, gold futures for August delivery rose 1.32% to US$4,525.67 per troy ounce at the time of writing.
Earlier in the session, gold prices touched an intraday high before stabilizing near current levels. Analysts expect gold to find key support around US$4,454.00 per ounce, while resistance is projected near US$4,627.10.
Meanwhile, the US Dollar Index Futures, which tracks the performance of the greenback against a basket of six major currencies, declined 0.32% to 99.18, making gold more attractive for global investors.
In other precious metals trading on Comex, silver futures for July delivery gained 1.21% to US$74.59 per troy ounce. Copper futures for July delivery also advanced 0.30% to US$6.53 per pound.
The latest gains in gold prices reflect continued market uncertainty and investor focus on global economic conditions, interest rate expectations, and currency movements.