Gold futures climbed above the key $1,500 level on Thursday to mark their highest settlement in five weeks, finding haven-related support from weakness in the U.S. stock market and the dollar.
A news report that said China officials have doubts over prospects for a long-term trade deal with the U.S. fed declines in U.S. stocks and haven demand for gold.
Gold for December delivery on Comex rose $18.10, or 1.2%, to settle at $1,514.80 an ounce. That was the highest most-active contract finish since Sept. 26 and largest one-day dollar and percentage climb since Oct. 2.
December silver gained 20 cents, or 1.1%, to end at $18.067 an ounce. Most-active silver futures haven’t settled above $18 since Sept. 25.