Gold prices were higher around one third of per cent on Thursday, with the background of rising oil prices and strength in Japanese yen. A day before, the precious metal fell to the levels last seen seven weeks ago.
Gold spot price rose 0.37% to $1,228.54 per troy ounce by 12:51 p.m. CET, and was 2.08% lower for the week. Other precious followed the suit: silver added 0.99% to $16.46 per fine ounce, platinum rose 1.79% to $1,005.64 per fine ounce, while palladium jumped 2.09% to $541.50 per fine ounce.
In India, jewellers were buying more of the bullion at the domestic spot market at levels established on gold recovery.
Meanwhile, the Japanese yen has been strengthening versus the U.S. dollar since the Asian morning, opening the way for a bit higher oil prices. The Japanese currency was 0.18% higher compared to the U.S. dollar to ¥109.97. It gained 0.08% versus the euro to reach ¥123.02, and was stronger 0.14% to the Swiss franc by 12:52 p.m. CET.
Image: EPA / Georgi Ličovski
