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Gold futures finish sharply higher as dollar, bonds slide

03 Jan 2025 Evaluate
Gold futures finished sharply higher Thursday, kindled by the weakness in dollar and dip in US Treasury bond yield notes. Moreover, geopolitical tensions continued to kindle safe haven appeal of the bullion, particularly after Russia launched a drone attack on Kyiv and Israel targeted a neighbourhood in Gaza City. Meanwhile, implications of a second Donald Trump presidency and China's efforts to revive its economy also supported precious metal investments.

Gold futures for February delivery up by $28 or 1.04% to settle at $2,669.00 ounce on the Comex division of the New York Mercantile. While, spot gold rose by $6.45 or 0.24% to $2,664.35 an ounce.

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