Gold futures trade higher in early deals of Monday, above the key resistance $1900 level as the traders appreciated yellow metal’s safe haven appeal amid continued surge in coivd infection rates and the lingering concerns over the global economic health. Moreover, hedge investments after the US inflation rates hiked to a 13 year high also supported the precious metal buying. Gold for the most active contract had posted a fourth straight weekly gain, about 1.5% gain for the week.
Gold futures for August trade up by 0.1% to $1,907.00 an ounce on the Comex division of the New York Mercantile. While, spot gold was almost unchanged at $1,903.25 per ounce.