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.