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Gold futures finish higher on Wednesday

23 Jan 2025 Evaluate

Gold futures finished higher on Wednesday, as the uncertainty surrounding President Donald Trump’s tariff plans, and raising concerns about potential trade wars kindled safe haven appeal of the bullion. Moreover, intensified bets on more interest rate cuts by ECB and Federal Reserve also boosted investment appeal of non-yielding bullion.

Gold futures for February delivery up by $11.70 or 0.42% to $2,770.90 ounce on the Comex division of the New York Mercantile. However, spot gold down by $4.83 or 0.18% to $2,751.65 an ounce.