WASHINGTON (dpa-AFX) - Safe haven bids triggered by the recent escalation in tensions between Russia and Ukraine helped Gold extend gains for the fourth day in a row. Prices of the yellow metal increased on Thursday overcoming stiff challenge from the Dollar's strength attributed to fading bets of aggressive rate cuts by the Fed.
Both Spot Gold and Gold Futures added to Wednesday's gains.
Gold Futures for December settlement has rallied 0.58 percent overnight to trade at $2,667.20, versus the previous close of $2,651.70.
The day's trading range has been between $2,651.60 and $2,676.15 as compared with the 52-week trading that ranged between $1,979 and $2,801.80.
Gold Futures has gained 3.6 percent in the past week but has slipped 2.98 percent over the past one month. On a year-to-date basis, however the yellow metal has rallied 28.7 percent. The price surge over the 3-year horizon is more than 47 percent.
Spot Gold added 0.59 percent overnight to trade at $2,665.97 per troy ounce. The day's trading range has been between $2,648.95 and $2,673.55. Spot Gold had ranged between $1,973.09 and $2,790.41 over the past 52 weeks.
At current prices, Gold Futures and Spot Gold have both gained more than 32 percent over the past year.
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