15.08.201915:02:00UTC+00Gold Prices See Additional Support On Thursday

Gold prices saw continued upside on Thursday following solid gains a day earlier as traders move back to safe havens as fears of global recession mounted.

Spot gold was up $7.00 or 0.46 percent at $1,523.10, while gold futures advanced $6.05 or 0.39 percent to $1,533.60.

Risk-off sentiment dominates equity markets after the yield on 30-year U.S. treasuries fell below 2 percent for the first time ever in a sign that interest rates will likely remain lower for longer.

The U.S. yield curve remains inverted for the second day running today, triggering an extensive flight to safety. The yield curve has inverted before each recession in the past half-decade.

The precious metal had reached a six-year high Tuesday on concerns over the trade dispute between the United States and China before easing later in the day.