Gold rate on Thursday jumped more than 1 per cent to $3,053. U.S. gold futures climbed 1.3 per cent to $3,062.

KEY TAKEAWAYS Gold prices jumped Thursday, after Goldman Sachs raised its year-end forecast for the commodity to $3,300 per troy ounce level.Analysts Lina Thomas and Daan Struyven said their increased year-end target reflected higher-than-estimated inflows into gold by exchange-traded funds as well as “continued strong central bank gold demand.