Gold futures finished higher on Thursday, supported by the safe haven appeal of the bullion with the escalating trade tensions, declining Treasury yields and softer dollar. Meanwhile, Trump’s call for a 300 bps cut in the Fed funds rate fuelled speculation about a dovish Fed nominee next year and raised concerns over longer-term inflation expectations.
Gold futures for August delivery up by $4.70 or 0.14% to settle at $3,325.70 an ounce on the Comex division of the New York Mercantile. While, spot gold rose by $6.73 or 0.20% to $3,330.78 an ounce.