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Gold futures trade modestly higher on Ukraine crisis

07 Mar 2022 Evaluate
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.