Skip to main content

MoneyWorks4Me

Gold futures trade higher in early deals of Monday

04 Dec 2023 Evaluate
Gold futures traded higher in early deals of Monday, bolstered by the Federal Reserve interest rate cut bets and on safe haven appeal amid escalated Israel Hamas conflicts. However, pick up in dollar and 10-year Treasury bond yield notes capped some gains in the session. The precious metal for the most active contract had registered third straight weekly gain, by jumping about 2.3%, and a second straight monthly gain of 2.7%.

Gold futures for February delivery rose by $16.5 or 0.79% to $2106.20 ounce on the Comex division of the New York Mercantile. While, spot gold added by $11.91points or 0.57% to $ 2,084.13 per ounce.