Gold futures finished sharply higher on Tuesday, marking third straight gain and record high rate. The yellow metal soared with the growing expectations of more Fed interest rate cuts and on safe haven appeal amidst geopolitical uncertainties. Softer dollar and declining bond yield notes also kindled yellow metal investments.
Gold futures for December delivery surge by $40.60 or 1.07% to $3,815.70 an ounce on the Comex division of the New York Mercantile. Spot gold down by $2.60 or 0.07% to $3,761.41 an ounce.