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Gold futures trade sharply higher in early deals on Tuesday

20 Jan 2026 Evaluate

Gold futures traded sharply higher in early deals on Tuesday, kindled by the safe haven appeal of the bullion after the US President threatened to impose an additional 10% import tariff on eight European countries starting February 1. This will potentially rising to 25% in June unless the US is allowed to acquire the island. Market is currently eyeing the delayed US PCE inflation report due later this week, to gauge on the Federal Reserve's rate path. The US market was closed on Monday due to Martin Luther King, Jr. Day.

Gold futures for February delivery up by $92.10 or 1.66% to $ 4,687.50 an ounce on the Comex division of the New York Mercantile. Spot gold rose by $13.71 or 0.31% to $ 4,684.60 an ounce.


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