Bengaluru — Gold prices edged higher on Thursday buoyed by a weaker dollar, while investors awaited US weekly jobless claims and March retail sales data for further clarity on the recovery in the world’s largest economy.
Spot gold rose 0.1% to $1,738.38/oz at 3.32am GMT. US gold futures were up 0.2% at $1,739.20/oz. “A weaker dollar after the Fed speech and the central bank’s willingness to tolerate more inflation is keeping gold supported,” said Yingtao Jin, an analyst at StoneX Group. “Slightly higher yields this morning and investors shifting positions to digital currencies after bitcoin hit a record high on Wednesday, are exerting downward pressure on the metal.”..
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