Gold futures ended lower for fifth straight session on Wednesday, as the increased risk appetite in the market with the stronger bond yields and firmer dollar amid bets on faster global economic recovery with the faster vaccine rollout dulled the safe haven bullion investments. The 50-day moving average price of yellow metal for the most active contract has marked below 200 day moving average in the session, pointing bearish trend for the precious metal.,
Gold futures for April delivery was down by 1.5% or $26.2 at $1,772.80 an ounce on the Comex division of the New York Mercantile. Spot gold was down 1.2% at $1,773.72 per ounce.