India, May 5 -- Gold futures moved sharply higher during trading on Monday, extending the rebound seen during last Friday's session.
After climbing $21.90 or 0.7 percent to $3,231.90 an ounce in the previous session, gold for May delivery surged $79.40 or 2.5 percent to $3,311.30 an ounce.
The price of gold continued to recover from Thursday's two-week lows amid a modest decrease by the value of the U.S. dollar, with the U.S. dollar index edging down by 0.1 percent.
Gold also benefitted from its appeal as a safe haven amid renewed trade concerns after President Donald Trump announced plans to impose a 100 percent tariff on movies produced in foreign countries.
"The Movie Industry in America is DYING a very fast death," Trump said in a p...