Gold futures finished higher on Tuesday, kindled by the safe haven appeal of the bullion amidst fears of a global recession and higher inflation with the prospect of a full-blown trade war. The US President Donald Trump's additional tariffs on countries worldwide are now in effect, with China facing the largest tariff rise of 104%, as it did not lift retaliatory tariffs on U.S. goods by a noon Tuesday deadline set by Trump.
Gold futures for April delivery rose by $16.60 or 0.56% to settle at $2,990.20 an ounce on the Comex division of the New York Mercantile. While, spot gold up by $28.38 or 0.95% to $3,011.65 an ounce.