COMMODITY
Gold futures finish sharply higher on safe haven appeal
Mar-04-2025
Gold futures finished sharply higher on Monday, as the safe haven appeal of the bullion soared with the ongoing geopolitical uncertainties, particularly related to US tariff policies. Tensions of global trade war spurred after US President Trump on Monday confirmed that 25% tariffs on imports from Mexico and Canada would start later today, along with a doubling of China levies to 20%. Rising inflation, slowing economic growth and dipping bond yield notes also supported precious metal buying.

Gold futures for April delivery rose by $52.60 or 1.84% to settle at $2,901.10 ounce on the Comex division of the New York Mercantile. While, spot gold down by $4.69 or 0.16% to settle at $2,888.04 an ounce.

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