Gold rose slightly on Thursday's trading session as it continued to hover above key support levels of $ 1,800 per ounce amid weak US dollars and signs of a slowdown in the US economic recovery have prompted demand for gold safe-haven assets.
At the start of European session trading, gold precious metals traded at $ 1,812 per ounce, while gold futures were positive at $ 1,810 per ounce (3.00pm Malaysian time).
While risky currencies are still supported by investor expectations for good developments on the Covid-19 vaccine and positive market sentiment, gold trading began to rise after witnessing the gloom of US employment data. However, the increase was seen to be still a little weak.
The number of US unemployment claims continued to disappoint the market by showing an increase last week, thus raising investor concerns about the country's economy.
In addition, the publication of the minutes report of the FOMC meeting was also of concern to the market where Federal Reserve policymakers have discussed how various options on bond purchases to support recovery, including increasing purchase rates or performing long-term bonds.
Meanwhile, the increase in cases of coronavirus infection worldwide still shows no signs of subsiding, with the latest number exceeding 60 million while the death toll is around 1.4 million, according to Johns Hopkins University.
