Gold prices surging on expectation of statistical data from US

The gold prices grew on Wednesday morning on the expectation of statistical data from the United States and the publication of the protocol of the last session of the Federal Reserve System, Report informs, citing the trading data.

As of 09.30 a.m. (GMT+4), the December futures for gold rose by 0.59% or $10.65 at New York's Comex to $1,794.45 per troy ounce.

Later on Wednesday, US GDP data for the last quarter will be released, with analysts predicting the country's Department of Commerce will raise its estimate of US economic growth to 2.2% from 2%. At the same time, information on the number of applications for unemployment benefits which is expected to have dropped to 260,000 in the United States for the past week will become known.