Gold Price Today

The price of gold stock climbed on Thursday, due to the weakening of the dollar ahead of the Christmas holidays and the recovery in oil prices helping sentiment.

The price of spot gold rose 0.69 percent to 1, 075.80 dollars a troy ounce, after the loss of 0.7 per cent in the last two sessions. While the price of U.S. gold futures for February delivery rose $ 7.60 on 1, 075.90 dollars per troy oz.

The gold price has dropped 9 percent throughout this year, the third year of losses, mostly because of expectations the U.S. Federal Reserve will raise interest rates, which eventually happened in December.

With the rise in U.S. interest rates first in nearly a decade, so the focus is now on the rate of increase in the future, analysts said.

The dollar slipped against a basket of 0.3 percent of major currencies, dropped to the fourth session in five.

Data on Thursday showed U.S. weekly jobless claims slip more than estimates nearlow 42 years.

Data on new orders for U.S. capital goods produced down in November andconsumer sentiment is at a high position for five months in December.

In other markets, crude oil prices steady above $ 37 a barrel, the fourth day of gainsafter reaching its lowest level since early 2009, Monday.

Gold correlates positively with oil as the metal is seen as a hedge against oil-ledinflation.