Gold futures traded higher in early deals on Monday, as the safe haven appeal of the bullion boosted with fears over global trade war after US President Donald Trump announced new 25% tariffs on all steel and Aluminium imports. Moreover, expectations of looser monetary policy from major central banks and weaker dollar also buoyed the yellow metal rates. The yellow metal for the most active contract had marked 1.9% gain for the week.
Gold futures for February delivery up by $11.80 or 0.41% to $2,899.40 ounce on the Comex division of the New York Mercantile. Spot gold rose by $12.96 or 0.45% to $2,874.03 an ounce.