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Gold futures trade higher in early deals on Monday

28 Dec 2020 Evaluate
Gold futures trade higher in early deals on Monday, kindled by the inflation hedge appeal of the bullion after US President Donald Trump signed a long-awaited corona relief bill. Moreover, a weaker dollar also lifted the yellow metal’s appeal. The bullion Gold, seen as a hedge against inflation, has gained more than 24% this year, largely driven by a raft of stimulus measures to mitigate the impact of the pandemic.

Gold futures for February delivery was gained 0.9% to $1,899.10 an ounce on the Comex division of the New York Mercantile. Spot gold was up 1% at $1,894.44 per ounce.

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