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Gold futures end below $1800 level on economic recovery optimism

17 Feb 2021 Evaluate
Gold futures ended lower on Tuesday, marking below the benchmark $1800 level with the increased risk appetite in the market boosting government bond yields and dulling the bullion investments. Moreover, optimism over global economic recovery with the reduced number of covid cases also dampened safe haven appeal of the bullion.

Gold futures for April delivery was down by 1.3%or $ 24.20 to settle at $1,799.00 an ounce on the Comex division of the New York Mercantile. Spot gold fell 1.2% to $1,796.50 per ounce.