The price of gold gained momentum again on Thursday, snapping the losing streak driven by reduced global trade tensions, and rose 1% after the latest report showed that the gross domestic product (GDP) in the United States contracted 0.2% in the first quarter of the current year.
At the same time, initial jobless claims increased by 14,000, further contributing to the uncertainty about economic growth in the US.
Gold jumped 1% at 9:33 am ET to reach 3,319.77 per ounce. A minute later silver added 0.93% to go for $33.27 per ounce. Platinum was 0.45% higher at 9:35 am ET, going for 1,088.99 per ounce while palladium grew 0.39% to $958.40 per ounce.
