Gold futures finished higher on Tuesday, kindled by the weakness in US Treasury bond yields and dollar followed by the worries over accelerating inflation. Moreover, short covering after back to back losses also buoyed the yellow metal rates. However, bets on hawkish stance by US Federal Reserve capped some gains.
Gold futures for August added by 0.5% or $8.40 to settle at $1852.10 ounce on the Comex division of the New York Mercantile. While, spot gold jumped by 0.6% at $1,851.63 per ounce.