Gold futures climb on rising safe-haven asset

Gold prices climbed by Rs 1,853 to Rs 1.62 lakh per 10 grams in futures trade on Tuesday as a weak US dollar and improved global sentiment supported the safe-haven demand.

The yellow metal for April delivery appreciated Rs 1,853, or 1.16 per cent, to Rs 1,62,152 per 10 grams in a business turnover of 7,355 lots.

Analysts said gold prices recouped losses from the previous session after the US dollar weakened following comments by President Donald Trump suggesting that the conflict with Iran could be nearing an end.

In the international markets, Comex gold futures for April contract gained $75.91, or 1.5 per cent, to $5,179.61 per ounce.