World Economy

Gold Futures Edge Higher

Gold Futures Edge HigherGold Futures Edge Higher

Gold prices edged higher in Europe on Friday, as demand for the dollar weakened after Thursday’s downbeat US jobless claims data and as hopes for a solution to the Greek debt crisis dampened demand for the greenback, reported. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery were up 0.10% at $1,160.40. The August contract ended Thursday’s session 0.37% lower at $1,159.20 an ounce. Futures were likely to find support at $1,145.90, Wednesday’s low and a four-month low and resistance at $1,166.90, Thursday’s high. The dollar weakened after data on Thursday showed that US jobless claims rose to their highest level since February last week.