Gold futures trade higher on Monday
Gold futures traded higher on Monday, supported by safe haven buying amidst ongoing geopolitical tensions and rising demand from Chinese central banks. Moreover, weakness in the US dollar also makes dollar-denominated commodities cheaper for holders of other currencies. Meanwhile, investors awaited a key U.S. labour market report due later in the week for more cues on the Fed's monetary policy path.
Gold futures for April delivery rose by $54.9 or 1.10% to $5034.7 an ounce on the Comex division of the New York Mercantile. While, spot gold up by $53.85 or 1.08% to $5,018.2100 an ounce.
