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Gold futures end sharply higher on Thursday

07 May 2021 Evaluate
Gold futures ended sharply higher on Thursday, marking near a three month high rate in tandem with the weakness in dollar and US Treasury yields boosting investment appeal of the bullion. Moreover, investor inflation fears amid heavy government stimulus to boost the economy, lifted inflation hedge appeal of the bullion.

Gold futures for June widened by 1.8% or $31.40 to settle at $1,815.70 an ounce on the Comex division of the New York Mercantile. Spot gold 1.6% to $1,814.50 per ounce.