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Gold futures finish lower on US dollar rally

24 Mar 2021 Evaluate

Gold futures ended lower on Wednesday as the US dollar's rally to a two-week peak following US Federal Reserve Chair Jerome Powell's reassurance that inflation would not spiral out of control. However, some losses were restricted by dip in US benchmark Treasury yields.

Gold futures for April delivery fell 0.8% to settle at $1,725.10 an ounce on the Comex division of the New York Mercantile. Spot gold was down 0.7% to $1,726.76 per ounce.