WASHINGTON (dpa-AFX) - Gold prices are edging higher Thursday morning, extending recent gains, after stock futures tumbled amid political uncertainty in the U.S., and on worries about the outlook for global economic growth.
After soaring by over 1,000 points on Boxing Day, a couple of days after it suffered its worst ever session on Christmas Eve, Dow futures are down sharply this morning.
Concerns about U.S. government shutdown and doubts about the U.S. and China agreeing on a long term trade deal before the expiry of the agreed 90-day truce appear to be weighing on sentiment.
The dollar is losing ground against major currencies. The dollar index is currently down 0.35%, at 96.25.
Gold futures for February are rising $5.05, or 0.4%, at $1,274.80 an ounce. On Wednesday, gold futures ended up $1.20, or 0.1%, at $1,273.00 an ounce.
Silver futures for March are up $0.105, or 0.7%, at $15.207 an ounce, while copper futures for March are down $0.017, or 0.61%, at $2.683 per pound.
In economic releases, data on initial jobless claims is due at 8:30 AM ET.
The house price index for October is due for release at 9:00 AM ET.
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