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Gold futures finish sharply higher amidst macroeconomic uncertainties

04 Feb 2026 Evaluate
Gold futures finished sharply higher on Tuesday, marking the biggest daily gain since 2008 kindled by the safe haven appeal of the bullion amidst persisting macroeconomic uncertainties. Bets regarding the Federal Reserve's policy under nominee Kevin Warsh and a partial US government shutdown spurred risk aversion in the market. Weakness in dollar and decline in bond yield notes also supported bullish bets.

Gold futures for February delivery surged by $282.40 or 6.06% to $4,935.00 an ounce on the Comex division of the New York Mercantile. While, spot gold up by $ 130.73 or 2.64% to $ 5,077.49 an ounce.

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