Gold futures traded higher in early deals of Friday, kindled by the softness in dollar and on safe haven bullion bets with the escalating geopolitical tensions in the Middle East. Additionally, bets over Fed interest rate cuts this year followed by unexpected waning in services activity and tapering US private employment numbers also bolstered yellow metal investments. The US stock market was closed on Thursday for Independence Day.
Gold futures for August delivery rose by $0.7 or 0.03% to $ 2370.10 per ounce on the Comex division of the New York Mercantile. While, spot gold up by $ 5.59 or 0.24% to $ 2,362.28 an ounce.