Gold futures finished higher on Tuesday after hitting a more than one-month low in the previous session, buoyed by safe-haven demand amid escalated tensions in the Middle East. The U.S. and Iran launched new attacks in the Gulf on Monday as they wrestled for control over the Strait of Hormuz with maritime blockades. Furthermore, concerns over inflation and bets over interest rate cuts by the Federal Reserve also buoyed the yellow metal investments
Gold futures for June delivery rose by $35.2 to 0.8% to settle at $4568.50 an ounce on the Comex division of the New York Mercantile. While, spot gold up by $93.52 or 2.05% to $ 4,650.44 an ounce.