2023-10-26 22:08:35
Gold closes: The situation in the Middle East continues to boost the appeal of safe-haven assets. Gold closes slightly higher and continues to approach the $2,000 mark.
Financial World 2023-10-27 06:08:35
In the early morning of the 27th, Beijing time, New York gold futures prices closed higher on Thursday. Gold prices were supported by safe-haven buying driven by conflict in the Middle East, offsetting pressure from strong U.S. economic data.
The price of December gold, the most actively traded gold futures market on the New York Mercantile Exchange, rose $2.5 to close at $1,997.4 per ounce, an increase of 0.13%.
Economic data released on Thursday showed that the U.S. economic growth rate in the third quarter reached the highest level in nearly two years, once once more challenging recession expectations that have surfaced repeatedly since 2022.
In addition, the U.S. Department of Labor reported that the number of people applying for unemployment benefits for the first time in the United States increased by 210,000 last week, indicating that labor market conditions remain tight.
Analysts said Thursday’s economic data pointed to a high degree of resilience in the U.S. economy, supporting the view that the Federal Reserve will continue to raise interest rates, and the prospect of the Federal Reserve raising interest rates is negative for gold prices.
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