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Gold futures trade sharply higher on safe haven appeal

28 Feb 2022 Evaluate
Gold futures traded sharply higher in early deals on Monday, buoyed by the safe haven appeal of the bullion amid Russian invasion in Ukraine and as Western countries imposed fresh sanctions on Russia. The yellow metal for the most active contract had dipped to 0.6% for the week.

Gold futures for December climbed by 1.1% to $1,908.30 an ounce on the Comex division of the New York Mercantile. While, spot gold rose 1.2% to $1,909.89 per ounce.