Gold futures finished higher on Monday, kindled by the weakness in dollar and on safe haven appeal amidst amid growing global economic uncertainty. Moreover, raised concerns about the politicization of US monetary policy, potentially undermining the Fed’s credibility and eroding investor confidence in the economy after President Trump raised his criticism on Fed Chair Powel, also raised risk aversion in the market.
Gold futures for June delivery up by $96.90 or 2.91% to $3,425.30 an ounce on the Comex division of the New York Mercantile. While, spot gold rose by $57.29 or 1.67% to $3,481.27 an ounce.