Gold prices increased at the start of trading in the Asian market on Thursday, supported by a weak U.S. dollar and investors’ anticipation of the upcoming non-farm payroll report in the United States.
Spot gold rose by 0.6 percent to $4,082.76 per ounce. This follows a session where it recorded its largest daily gain since mid-August, climbing approximately 3.4 percent.
U.S. gold futures for December delivery increased by 0.5 percent, reaching $4,092.90 per ounce.
In other precious metals markets, silver prices in spot trading rose by 0.3 percent to $52.37 per ounce, while platinum increased by 0.6 percent to $1,505.85. Conversely, palladium saw a slight decline of 0.1 percent, settling at $1,003.83 per ounce.
The rise in gold prices reflects a shift among investors toward safe-haven assets. This trend occurs as they await economic data that could influence monetary policy and global currency markets.
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