Gold futures traded sharply higher in early deals of Monday, extending gains to fifth consecutive session with the bets over interest rate cuts by Federal Reserve. Additionally, geopolitical instability in Eastern Europe and the Middle East also buoyed safe haven appeal of the bullion. The yellow metal for the most active contract marked 2.6% gain for the week and soared about 9% for the month of March.
Gold futures for June delivery up by $42.90 or 1.92% to $2281.30 per ounce on the Comex division of the New York Mercantile. While, spot gold increased by $30.67 points or 1.38% to $ 2,260.54 an once