Gold futures inched higher Thursday morning, adding to yesteday’s strong gains.
Gold prices have jumped to the highest in a year thanks to a dismal U.S. dollar and expectations for low interest rates.
Gold was up $3 at $1364 an ounce in early dealing.
The European Central Bank left its key interest rates and asset purchases unchanged on Thursday. In contrast to expectations, there was hardly any change in the wording of the forward guidance.
“The Governing Council expects the key ECB interest rates to remain at their present levels for an extended period of time, and well past the horizon of the net asset purchases,” the ECB reiterated.
On the U.S. economic front, the Labor Department’s Jobless Claims for the week will be issued at 8.30 am ET. The economic analysts are looking 240K new claims, up from 220K in the prior week.
The New Home Sales data, that would give a picture of the demand for housing and economic momentum, is expected at 10.00 am ET. The consensus is for 680 K, down from 733 K in the prior week.
The material has been provided by InstaForex Company – www.instaforex.com
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