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Gold futures trade higher in early deals on Monday

01 Feb 2021 Evaluate
Gold futures traded higher in early deals on Monday, in midst of risk aversion with the high volatility in stock markets tracking Wall Street retail-trading frenzy. Moreover, the news that Johnson & Johnson's one-dose coronavirus vaccine appeared to be less potent against newer COVID variants, also boosted safe-haven appeal of the bullion.

Gold futures for February delivery rose by $13.30 or 0.7% at $1860.60 an ounce on the Comex division of the New York Mercantile. Spot gold rose 0.78% to $1,862.03 per ounce.