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.