Skip to main content

MoneyWorks4Me

Gold futures finish higher on safe haven demand

21 May 2024 Evaluate

Gold futures finished higher on Monday, whetted by the safe haven appeal of the bullion amidst geopolitical uncertainty following the death of Iranian president Ebrahim Raisi. While, optimism that the US Federal Reserve will implement two interest rate cuts this year further bolstered gold prices.

Gold futures for June delivery gained by $21.1 or 0.87% to settle at $2438.50 per ounce on the Comex division of the New York Mercantile. While, spot gold down by $12.52 points or 0.52% to $ 2412.79 an ounce.