Gold futures finished sharply higher on Wednesday, as the dollar and US Treasury Bond yield notes amid expectations that the US Federal Reserve will start cutting interest rates next year. Persisting geopolitical tensions and lingering global economic health woes also lifted safe haven appeal of the bullion. The yellow metal for the most active contract finished near three-week high rate.
Gold futures for February delivery rose by $23.3 or 1.1% to $2093.10 per ounce on the Comex division of the New York Mercantile. While, spot gold jumped by $8.96 points or 0.43% to $2,086.45 ounce.