Commodities

Gold extends record-breaking rally, closes higher for 5th straight session

2020-08-06 19:50:22 GMT (Economies.com)

Gold prices rose on Thursday, to extend the record-breaking rally for the fifth straight day, as the US dollar fell against most currencies.

 

This comes ahead of the monthly jobs report on Friday, which provide better insight on the state of the US labor market, amid expectations for the addition 1.550 million jobs in July, and the unemployment rate to fall to 10.5%.

 

The dollar index fell against a basket of currencies by 0.1% to 92.7 points as of 18:26 GMT, after it hit a high of 93.08 and a low of 92.5.

 

Gold December futures rose 1% or $20.1 to close of $2,069.4 an ounce (the all-time highest close), after hitting a day high of $2,081.8 and a low of $2,049.

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