COMMODITY
Gold futures trade higher in early deals of Monday
Oct-21-2024
Gold futures traded higher in early deals of Monday, as the intensified Middle East tensions, and uncertainties ahead to upcoming US presidential elections boosted safe haven appeal of the bullion. The Middle East tensions had flared following Hezbollah's announcement on Friday that it is entering a more intense phase in its conflict with Israel, while reports over the weekend indicated that Israeli strikes hit Beirut’s southern suburbs and other regional targets.  Additionally, dovish approach by the several central banks also whetted the yellow metal investments. The yellow metal for the most active contract had registered 2% gain for the week. 

Gold futures for December delivery rose by $15.90 or 0.58% to settle at $2745.90 per ounce on the Comex division of the New York Mercantile. While, spot gold up by $8.81 or 0.32% to settle at $2,730.27 an ounce.

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