COMMODITY
Gold futures settle higher on safe haven appeal
Jan-31-2025
Gold futures settled to new all-time high on Thursday, supported by the safe haven buying due to concerns over global economic growth amid U.S. President Donald Trump's tariff plan. Further, weakened dollar after the latest US economic data showed softer-than expected growth in the fourth quarter, also supported yellow metal rates. Meanwhile, investors are awaiting the December US personal consumption expenditures (PCE) price index report for further clues on the U.S. Federal Reserve's policy path.

Gold futures for April delivery up by $51.7 or 1.8% to settle at $2,845.20 ounce on the Comex division of the New York Mercantile. While, spot gold rose by $1.22 or 0.04% to $2,795.43 an ounce.

  RELATED NEWS >>