India, June 2 -- Gold prices rose nearly 2 percent on Monday as geopolitical tensions escalated and the dollar weakened against its major rivals, weighed down by weakening U.S. macroeconomic fundamentals.
Spot gold jumped 1.8 percent to $3,349.83 per ounce in European trade while U.S. gold futures were up 1.8 percent at $3,374.21.
Geopolitical tensions remained on investors' radar as Ukraine launched a major drone strike on Sunday, destroying 40 key Russian aircraft, including the Tu-95 and Tu-22 M3 long-range bombers capable of deploying conventional and nuclear weapons as well as the A-50.
The dollar index slumped amid heightened uncertainty over U.S.-China trade relations and President Donald Trump's tariff policies.
U.S. President D...