Gold futures traded modestly higher in early deals on Monday, as the safe haven appeal of the bullion spurred on account of Russia–Ukraine war, lingering Covid-19 spread, and surging inflation. Gold for the most active contract logged 4.2% rise for the week, registering biggest weekly gain in one and half years.
Gold futures for December rose by 1.7% to $2,000.20 an ounce on the Comex division of the New York Mercantile. Spot gold up by 1.5% to $1,998.37 per ounce.