Gold futures trade sharply higher on renewed tariff woes
Gold futures traded sharply higher in early deals of Monday, as the safe haven appeal soared after US President Donald Trump announced plans to hike global tariffs from 10% to 15%. Intensified fears of a potential US military strike on Iran, and softer dollar also buoyed yellow metal investments. Meanwhile, the precious metal for the most active contract had marked a rise of 0.68% for the week, third consecutive weekly gain.
Gold futures for April delivery surged by $102.20 or 2.01% to $5,183.10 an ounce on the Comex division of the New York Mercantile. While, spot gold soared by $56.82 or 1.11% to $ 5,164.27 an ounce.
