Gold futures edge higher on rising geopolitical tensions

Gold futures edged higher on Thursday as rising geopolitical tensions between Ukraine and Russia buoyed the metal’s safe-haven appeal, after some mixed US economic data with weak initial claims for unemployment benefits. Further, weakness in dollar against a basket of other major currencies also influenced the precious metal price. Gold futures for June delivery settled up $6 at $1,290.60 an ounce on the Comex division of the New York Mercantile Exchange. While spot gold rose 0.8 percent at $1,292.95 an ounce.