Gold rises over 1% as dollar, yields retreat

Gold rose over 1% on Thursday buoyed by a retreat in the dollar and U.S. bond yields, while grim U.S. jobless data clouded the outlook for an economic recovery, adding to the metal’s safe-haven appeal.

Spot gold rose 1.2% to $1,727.86 per ounce. Most markets will be closed for Good Friday on April 2. U.S. gold futures settled up 0.7% at $1,728.30.

The number of Americans filing new claims for unemployment benefits unexpectedly rose last week, the Labor Department said.