Gold prices rise ahead of Powell speech

Gold prices rose slightly in early trading on Thursday as investors focused on an upcoming address by Federal Reserve Chair Jerome Powell and key US economic data releases.

Spot gold prices surged at 6:14 GMT by 0.08 per cent to $2,659.18 per ounce, compared to yesterday’s closing price of $2,657.16. While, US gold futures dropped 0.11 per cent to $2,681.85, compared to Wednesday’s closing of 2,684.7.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama