Gold futures on Thursday extended a record rally to a fifth straight day, with a muted U.S. dollar and lackluster moves in equities supporting bullion's ascent to near $2,100. "Gold price continues to skyrocket as demand for the precious metal surges," wrote Carlo Alberto De Casa, chief analyst at ActivTrades, in a daily note. December gold traded $20.10, or 1%, higher to settle at $2,069.40 an oz. Appetite for precious metals, including silver, has been resurgent, with both gold and silver futures and securities pegged to the commodities on a tear in recent weeks as the COVID-19 pandemic has delivered a seismic blow to international economies. On Thursday, gold rose amid indecision by U.S. lawmakers over the path toward another coronavirus relief package, even as weekly jobless claims data fell by 249,000 in early August to 1.19 million and touched the lowest level since the coronavirus pandemic began more than four months ago.
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Gold prices log fifth record in a row as bullion enters ‘euphoric phase’ of rally