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Gold futures trade higher ahead of US inflation data

08 May 2023 Evaluate

Gold futures traded higher in early deals on Monday, kindled by the bets on pause of interest rate hike by Fed ahead to US inflation data. Moreover, safe haven appeal of the bullion amid ongoing uncertainties also supported yellow metal investments.

Gold futures for April rose by $6.70 or 0.33% to $2031.50 ounce on the Comex division of the New York Mercantile. While, spot gold added by 0.35% or $7.05 to $ 2,023.84 ounce.