India, March 11 -- Gold futures closed higher on Tuesday, recovering after two successive days of losses, as worries about global growth and fears of a potential U.S. recession triggered a sell-off in equities and prompted investors to seek the safe-haven yellow metal.
Tensions between the U.S. and Canada have risen following U.S. President Donald Trump saying that he will double his planned tariffs on steel and aluminum imports from Canada to 50% from 25% as retaliation for the Canadian province of Ontario's 25% tax increase on electricity exports to the US.
Trump also threatened to impose higher tariffs on Canadian car imports.
The dollar's fall to a five-month low contributed significantly to gold's rise. The dollar index dropped to 1...