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07-Sep2018

Gold futures end higher on Thursday

Gold futures ended higher on Thursday, as traders indulged in some short covering in the yellow metal futures after the U.S. dollar weakened a bit against major currencies. The dollar weakened after a report from private payroll processor ADP showed that the U.S. created 163,000 jobs in August, much lower than the expected 190,000 positions. With the number falling short of expectations, it is now being felt that the Fed may not resort to any aggressive monetary tightening for now.

Gold futures for December delivery settled higher by $3.00 or 0.25 percent at $1,204.30 per ounce, on the Comex division of the New York Mercantile. While, spot gold gained 0.34 percent to $1,201.99 ounce.


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