Gold futures settled sharply higher on Thursday, hitting intraday peak $2,001, kindled by the weakness in dollar and on safe haven bullion appeal amid banking turmoil and less hawkish Federal Reserve. The greenback tumbled to a seven-week low pressured by the concerns over global economic health with high borrowing costs.
Gold futures for April jumped by $46.30 or 2.4% to finish at $ 1995.90 ounce on the Comex division of the New York Mercantile. However, spot gold dipped by $2.59 or 0.13% to $ 1,990.81 per ounce.