Gold futures finished sharply higher on Tuesday, as the recession fears kindled safe haven appeal of the bullion. Besides, negative trend in Treasury bond yields also lifted investment appeal of the yellow metal. Gold for the most active contract marked its highest settlement since mid-June.
Gold futures for February rose by $19.90 or 0.22% to settle at $1846.10 ounce on the Comex division of the New York Mercantile. Spot gold up by 0.50% or $9.11 to $1,824.02 per ounce.