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Gold futures settle sharply lower on stronger dollar

07 Jan 2021 Evaluate
Gold futures settled sharply lower on Wednesday, with the risk appetite in the market lifting dollar and bond yields as the traders anticipating on a Democrat win in the US Senate runoff elections in Georgia, dulled the yellow metal investments.

Gold futures for February delivery down by 2.3% or $45.80 to settle at $1908.60 an ounce on the Comex division of the New York Mercantile. Spot gold fell by 2.2% at $1,907.21 per ounce.