Gold futures on the COMEX Division of the New York Mercantile Exchange Thursday edged higher after striking record in Wednesday, buoyed by approaching quantitative easing (QE) policy. Meanwhile, another previous metal silver also expands in the day.

 

 The most active gold contract for December delivery gained 4.2 dollars, or 0.3 percent, to close at 1,296.3 dollars per ounce on the floor.

 

 A market trader said that gold is gaining rising momentum and will hike higher towards 1,300 dollars and beyond.

 

 The Fed’s stance toward its monetary policy continues to act as a positive force bolstering Thursday’s gold market, even in the face of strengthening dollar, added the trader.

 

 The rising unemployment has opened the gates for quantitative easing policy in the U.S., which badly affected its stock market and currency’s value, leaving few alternatives for investors. The U.S. Labor Department said the first-time unemployment claims jumped by 12,000 in the prior week and that the employers are unlikely to significantly add new jobs.

 

 The silver and platinum also joined the line in the day. December silver gained 15.8 cents, or 0.75 percent, to 21.055 dollars. October platinum closed at 1,645.9 dollars per ounce, rising 13 dollars, or 0.8 percent from the prior trading day.

 

VietNamNet/Xinhuanet