Gold prices inched higher on Thursday, as a slight pullback in Treasury yields offered some respite from a robust dollar, while investors looked forward to more U.S. economic data to gauge the outlook for interest rates.
Spot gold XAU= was up 0.1% at $1,918.64 per ounce by 0906 GMT, after hitting a one-week low on Wednesday. U.S. gold futures GCcv1 were little changed at $1,943.
“Quite clearly we’ve seen a reversal in U.S. economic data from weakness to strength recently and that once again added to expectation that the Federal Reserve may not yet be done hiking rates,” said Ole Hansen, Saxo Bank’s head of commodity strategy.
London-listed company KEFI Gold and Copper plc (LON:KEFI) is an exploration and development company focused on gold and copper deposits in the highly prospective Arabian-Nubian Shield. The Company operates in Ethiopia and Saudi Arabia with projects including Tulu Kapi project, Jibal Qutman EL and Hawiah.