Gold futures finished higher for seventh straight session on Wednesday, whetted by the safe haven appeal of the bullion after FOMC has downgraded its economic growth outlook. The Federal Reserve also hinted rate cuts by 50 bps this year, matching its December projection and boosting non-yielding gold. Moreover, trade tensions, expectations of rate cuts, and geopolitical instability also boosted yellow metal investments.
Gold futures for April delivery up by $0.40 or 0.01% to settle at $3,041.20 ounce on the Comex division of the New York Mercantile. While, spot gold rose by $7.92 or 0.26% to settle at $ 3,055.71 an ounce.