Gold futures settled higher on Tuesday and crossed the key $2,000 level as the weaker economic data has raised bets that the Federal Reserve may slow down its pace of rate hikes. Moreover, weaker dollar rates and falling Treasury yields also buoyed the investment appeal of the bullion. Data showed U.S. job openings in February fell to 9.9 million, the lowest in nearly two years, while factory orders fell for a second straight month.
Gold futures for June up $37.8 or 1.9% to finish at $ 2038.20 ounce on the Comex division of the New York Mercantile. Spot gold rose by 0.13% to $2022.99 per ounce.