Key Points
Gold prices continued to surge on Thursday, poised to achieve their most substantial monthly increase in over a year..
EDT (1420 GMT), spot gold rose by 0.5% to reach $2,204.99 per ounce..
Gold prices were trading higher amidst positive sentiment regarding interest rates, but the rise in the dollar index could exert pressure on gold..
The upcoming release of the U.S. core personal consumption expenditure (PCE) price index report, scheduled for Friday, holds significance for investors as it provides insights into the Federal Reserve's policy direction..
The gold prices breaking key long term resistance levels indicate there may be strong momentum which may continue over the near to medium term, some profit may not be ruled out though..
