LONDON—Spot-gold prices tracked a rally in platinum and palladium Thursday, but investors remained cautious ahead of U.S. nonfarm payrolls.
Spot gold was trading at $1,116.10 a troy ounce, up 0.2% from Wednesday's close. Gold for June delivery on the Comex division of the New York Mercantile Exchange was at $1,117/oz.
Platinum touched highs not seen since August 2008, and palladium hit the highest level since March 2008 as investor demand rises and speculators jump into the market, adding to the momentum.
Gold is attracting decent physical demand particularly from China, traders say, but investment demand remains muted. China's manufacturing activity grew for a 13th straight month in March and that boosted investor interest in industrial metals.
Platinum and palladium benefited from their industrial characteristics and rose along with copper and nickel, said Commerzbank analyst Eugen Weinberg.
