Gold futures finished sharply higher on Monday, as the uncertainty over President Donald Trump’s tariff plans spurred safe haven appeal of the bullion. After initially exempting tech products from reciprocal tariffs, Trump is considering exemptions for the auto industry. Expectations of Fed interest rate cuts also kindled yellow metal rates.
Gold futures for June delivery rose by $18.30 or 0.6% to settle at $3,226.30 an ounce on the Comex division of the New York Mercantile. While, spot gold up by $19.60 or 0.61% to $ 3,230.53 an ounce.