Gold futures finish higher on Monday, as the intensified geo political tensions over Russia-Ukraine disparity and on waning global economic health with soaring inflationary pressure. The yellow metal is considered as a hedge against inflation and geopolitical risks. However, anticipation of interest rate hike by Federal Reserve as the central bank is to start meeting on Tuesday, and a higher dollar trimmed some bullion investments.
Gold futures for February rose by 0.5% or $9.90 to $1841.70 an ounce on the Comex division of the New York Mercantile. While, spot gold climbed by 0.4% to $1,840.16 per ounce.