Gold prices recovered earlier losses Thursday to score a modest gain and another finish at a more than six-year high, on the back of haven-related buying spurred on by risks to the global economy.

The magnitude of the gains in the gold market Wednesday “were somewhat disappointing given the 800-point decline in the Dow and an avalanche of dire forecast[s] for the U.S. economy,” analysts at Zaner Metals said in daily commentary.

Gold for December delivery tacked on $3.40, or 0.2%, to settle at $1,531.20 an ounce, the highest most-active contract finish since April 11, 2013, FactSet data show. September silver however, held onto some if its earlier loss, to finish 6.6 cents, or 0.4% lower, at $17.214 an ounce.

Source : Marketwatch