Gold futures settle sharply higher on Tuesday as the headwinds dollar and treasury bond yield notes dipped whetting the investment appeal of the bullion. Less hawkish tone of US Federal Chair Jerome Powell at his testimony before congress spurred bullish bets in gold investments.
Gold futures for February were up 1.1% or $19.70 to settle at $1818.50 an ounce on the Comex division of the New York Mercantile. Spot gold rose by 1% to $1,819.58 per ounce.