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Gold futures end sharply higher on Monday

06 May 2025 Evaluate

Extending the rebound seen during last Friday's session, gold futures ended sharply higher on Monday amid a modest decrease in the value of the U.S. dollar. Gold prices also benefitted from its appeal as a safe haven amid renewed trade concerns after President Donald Trump announced plans to impose a 100 percent tariff on movies produced in foreign countries.

Gold futures for June delivery rose by $79 or 2.44% to settle at $3322.30 an ounce on the Comex division of the New York Mercantile. Spot gold up by 0.7% to $3,357.63 an ounce.