Gold futures finished sharply higher for the seventh straight session on Wednesday, kindled by the safe haven appeal of the bullion after a devastating earthquake in Taiwan, uncertainty over Fed benchmark interest rate lowering and on escalating geopolitical tensions in the Middle East and Ukraine. Strength of dollar and US Treasury bond yield notes got trivialized after hawkish comments from top Federal Reserve officials. Meanwhile investors also eyed on Friday’s nonfarm payrolls data for March, for further cues. As per reports the yellow metal rates have surged over 11% in 2024.
Gold futures for June delivery up by $33.20 or 1.45% to $ 2315.00 per ounce on the Comex division of the New York Mercantile. While, spot gold decreased by $ 0.85 points or 0.04% to $ 2,299.15 an ounce.