COMMODITY
Gold futures finish sharply higher on global recession fears
May-20-2022
Gold futures finished sharply higher on Thursday, as the global recession fears amid soaring inflation and supply chain chaos kindled safe haven appeal of the bullion. Negative trend in dollar, retreat in US treasury bond yields and a hefty sell-off in equities with the risk aversion followed by recent sluggish US economic data spurred investment appeal of the yellow metal.

Gold futures for June surged by $25.30 or 01.4% at $1841.20 on the Comex division of the New York Mercantile. While, spot gold climbed by 1.4% to $1,840.97 per ounce.

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