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Gold futures finish higher on safe haven appeal

11 Feb 2025 Evaluate
Gold futures finished higher on Monday, kindled by the safe haven appeal of the bullion amidst ongoing trade conflicts and economic uncertainties. The US President Donald Trump had signalled new reciprocal tariffs this week, after recent announcement of tariffs on all steel and aluminium imports into the US. Geopolitical risks got renewed after Hamas suspended the release of Israeli hostages, citing alleged Israeli ceasefire violations in Gaza. Moreover, expectations of looser monetary policy also buoyed investment appeal of non-yielding bullion.

Gold futures for February delivery surge by $46.80 or 1.62% to $2,934.40 ounce on the Comex division of the New York Mercantile. While, spot gold rose by $10.49 or 0.36% to $2,918.75 an ounce.