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Gold futures end lower as dollar strengthens

05 May 2021 Evaluate
Gold futures ended lower on Tuesday retreating form a two month high level, with the increased risk appetite in the market and stronger dollar counting on chances for a hike in US interest rates amid a roaring US economic recovery. US Treasury secretary Janet Yellen had signalled for a possible interest rate hike. Higher interest rates dulls demand for the non-yielding bullion

Gold futures for June dipped by 0.9% or $15.80 to settle at $1776.00 an ounce on the Comex division of the New York Mercantile. Spot gold was up 0.6% to $1,782.45 per ounce.