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Gold futures finish higher for third straight session

17 Jan 2025 Evaluate

Gold futures finished sharply higher on Thursday, extending gains to third straight session as dollar dipped and on rekindled hopes over more Fed interest rate cuts after softer-than-expected core inflation. Additionally, the potential tariffs under the incoming Donald Trump administration, also supported hedge appeal of the bullion.

Gold futures for February delivery surge by $33.10 or 1.20% to settle at $2,750.90 ounce on the Comex division of the New York Mercantile. Spot gold rose by $1.87or 0.08% to $2,716.18 an ounce.