Gold futures finished sharply higher on Monday, as the softness in dollar, bets on near-term Federal Reserve interest rate cut, and growing economic uncertainty whetted safe haven bullion investments. Additionally, increased central bank buying in emerging markets also buoyed the precious metal.
Gold futures for December delivery up by $112.20 or 2.8% to settle at $4,122.00 per ounce on the Comex division of the New York Mercantile. While, spot gold rose by $32.28 points or 0.77% to $4,148.04 ounce.