Gold futures traded higher in early deals of Monday, as the Iran’s massive drone and missile attacks on Israel intensified geopolitical tensions and kindled safe haven appeal of the bullion. Moreover, anticipation of Fed interest rate cuts and softer dollar also supported yellow metal buying. The yellow metal for the most active contract had climbed the week by 1.2%.
Gold futures for June delivery up by $1.4 or 0.06% to $ 2363.4 per ounce on the Comex division of the New York Mercantile. While, spot gold rose by $12.50 points or 0.53% to $ 2,356.87 an ounce.