Gold futures settled lower on Thursday after previous session’s sharpest rise in two weeks, weighed down by a firmer dollar. However, the yellow metal held above the psychological benchmark $1750 amid optimism that Federal Reserve’s monetary stimulus tapering would not be sudden after the US inflation reading came mostly as expected.
Gold futures for December slipped by 0.1% or $1.5 down at $1,751.80 an ounce on the Comex division of the New York Mercantile. Spot gold was steady at $1,750.91 per ounce.