Gold futures jumped to new yearly highs Thursday, as US political uncertainties and global economic jitters spurred safe haven demand.
April gold rose $16.40, or 1.3%, to settle at $1,258.20 an ounce, highest since February 2015.
Traders were expressing caution ahead of what is expected to be a lackluster February jobs report tomorrow morning.
The report said initial jobless claims rose to 278,000, an increase of 6,000 from the previous week’s unrevised level of 272,000.
In a key prelude to that report, the Labor Department said that first-time claims for U.S. unemployment benefits unexpectedly increased in the week ended February 27th.
The report said initial jobless claims rose to 278,000, an increase of 6,000 from the previous week’s unrevised level of 272,000.
The material has been provided by InstaForex Company – www.instaforex.com