U.S. gold futures ended nearly 1 percent higher on Thursday, recouping the previous session's losses, as safe-haven demand resurfaced on renewed sovereign credit risk and an equity market slump.

-Greece's finance minister called for "great moves" to safeguard the banking system and European policymakers defended austerity plans ahead of a G20 summit.
-Lack of confidence in fiat currencies prompted investors to take trade to safer haven such as gold and silver

-On Wednesday bullion dropped along with other asset markets after data showed sales of new U.S. homes dropped a record 32.7 percent in May to the weakest level in at least four decades.

-Supply worries lift platinum group metals off early session lows after a union representing workers at South African utility Eskom won the right to begin a strike.

Courtesy: Emkay Commotrade

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