Gold futures rose on the back of pessimism regarding the recovery of the US economy. Gold futures rose by 0.63 percent to USD $ 1542.40 an ounce.
The US unemployment rate rose in May to 9.1 percent from its previous figure of 9.0 percent. There is a growing belief that the US Federal Reserve shall continue to maintain the interest rate between 0 and 0.25 percent in order to bolster the US economy. This has resulted in the US Dollar depreciating against major currencies, and has increased the demand of gold as a safe-haven.
Silver futures declined by 0.03 percent to USD $ 36.191 an ounce.