Gold prices jumped by over two percentage points to reach the highest levels in around six weeks on Thursday as investors’ risk appetite improved after Greek prime minister backed away from his call for a referendum and an unexpected 25 basis point rate cut by the European Central Bank. The yellow metal prices got a boost from depreciation in American greenback, which made the bullion even more lucrative for foreign investors while the commodity also surged after encouraging US economic reports indicated a fall in unemployment claims and rising factory orders.Gold futures for December delivery surged $35.50 or 2.1% to settle at $1,765.10 an ounce, after trading as high as $1,768.30 and as low as $1,724 on the Comex division of the New York Mercantile Exchange, whereas the spot gold prices climbed $27 to $1,764.40 an ounce.
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