Gold Futures Modestly Higher, Set To End Year On High Note

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Gold futures are modestly higher Thursday morning, with a slightly weak dollar, and rising worries about surging coronavirus cases pushing up demand for the safe-haven asset.

Despite commencement of massive administration of coronavirus vaccines in several countries, worries about a new strain of the virus which was first noted in the U.K. are likely to weigh on riskier assets.

The dollar index, which slid to 89.52, is currently at 89.63, down 0.06% from previous close.

Gold futures for February are up $4.10 or 0.22% at $1,897.50 an ounce.

Gold futures look set to end calendar year 2020 with a gain of about 25%. Massive stimulus measures from global central banks and several governments amid the coronavirus pandemic pushed up gold prices this year.

On the economic front today, data on jobless claims for the week ended December 26th, is due out at 8:30 AM ET.


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