Gold prices increased on Thursday as the dollar strengthened against most major currencies amidst escalating geopolitical tensions in the Middle East.
Earlier US data indicated that unemployment claims remained steady at just 212 thousand last week.
In another development, IMF Director Christalina Georgiva informed Bloomberg that she still perceives a potential for a Fed interest rate reduction this year, although she endorsed the Fed’s decision to refrain from rate cuts for now.
Additionally, the dollar index climbed by 0.2% as of 18:48 GMT, reaching 106.1, with its peak during the session at 106.1 and a low at 105.7.
Gold spot prices surged by 0.4%, or $9.7 as of 18:48 GMT, reaching $3398.1 per ounce.
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