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Gold futures trade higher in early deals of Tuesday

02 Jan 2024 Evaluate
Gold futures traded higher in early deals of Tuesday, kindled by the weakness in dollar amidst optimism over potential dovish Federal Reserve stance from March as the inflation figures are under control. However, some gains remained trimmed with the recovery in US 10 year treasury bond yield notes. The yellow metal for the most active contract had posted yearly gain of about 14% in 2023 amidst geopolitical uncertainties and on direct purchases from central banks diversifying their reserves.

Gold futures for February delivery rose by $6.70 or 0.32% to $2078.50 per ounce on the Comex division of the New York Mercantile. While, spot gold widened by $7.08 points or 0.34% to $2,070.06 ounce.

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