Gold Hovers Near Seven-week High After Weak US Data
Gold prices traded higher for a fourth straight session to hit a seven-week high on Thursday, driven by softer U.S. labor market data released overnight, a weaker dollar and lower Treasury yields.
Spot gold traded 0.6 percent higher at $4,272.01 an ounce, after having surged above $4,300 an ounce earlier in the session. U.S. gold futures were up 0.6 percent at $4,332.51.
The U.S. dollar index traded with a negative bias for the third straight session after overnight data showed U.S. private payrolls growth slowed in July.
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