Dollar's Decline Fuels Gold's Advance; All Eyes on U.S. Economic Data

Gold prices experienced a notable increase on Thursday, primarily driven by a declining U.S. dollar. Investors are now closely monitoring upcoming U.S. economic data, which could provide significant insights into the Federal Reserve’s future interest rate decisions. As of midday in London, spot gold climbed 0.6% to reach $2,328.61 per ounce. Meanwhile, U.S. gold futures saw a modest rise of 0.1%, settling at $2,341.00 per ounce.