Gold prices rise ahead of US unemployment data

Gold bars

Gold prices climbed slightly today, Dec. 26, ahead of the release of some US economic data and amid lower trading volumes on a global scale due to Christmas holidays.

February gold futures inched up by 0.15%, or $3.70, to $2,639.20 per ounce, with spot prices also soaring 0.3% to $2,624.91 an ounce.

Meanwhile, March silver futures shed 0.45% to stand at $30.15 per ounce. Likewise, palladium spot prices plunged by 1.1% to $942.45, in tandem with a 0.5% slip in platinum spot prices to trade at $941.64 per ounce.

Elsewhere, the US dollar index, which gauges the greenback's strength against a basket of six currencies, held ground at 108.2 points at 10:47 am Makkah time.

Markets are awaiting the release of the US unemployment claims report to determine the labor market stance and to anticipate the prospects of the Federal Reserve's possible policy during the coming year.