SINGAPORE: Gold prices rose in Asian trade on Thursday, helped by a softer dollar and renewed optimism over some US coronavirus relief aid, with investors eyeing the weekly jobless claims data to further gauge the health of the world's largest economy.
Spot gold rose 0.3% to $1,892.01 per ounce by 0727 GMT. US gold futures were up 0.3% at $1,896.
"Gold needs both fiscal and monetary policy to come into play," said Edward Moya, a senior market analyst at OANDA.
"The virus' spread is still strong in more states and also in Europe, and that is going to force policymakers and lawmakers to deliver more stimulus," Moya said.
Gold, considered a hedge against inflation and currency debasement, has risen 24% this year, supported by massive government and central bank stimulus worldwide meant to revive their pandemic-hit economies.
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