Registering third days consecutive gain, Gold futures settled sharply higher on Tuesday with some technical buying at prevailing levels and on safe haven bullion bets with the soaring interest rates. The yellow metal for the most active contract held above key benchmark $1700 despite strength in dollar value.
Gold futures for December surged by $35.50 or 2.1% to settle at $1716.00 ounce on the Comex division of the New York Mercantile. However, spot gold dipped by $2.32 or 0.14% or $1,710.10 per ounce.