Gold futures finished lower on Tuesday as the Federal Chairman Jerome Powell hinted rolling back of stimulus measures quicker than previously announced. The yellow metal for the most active contract posted a decline of 0.4% for November. However, looming concerns over efficacy of vaccines against the new omicron variant of Covid-19 limited losses in the precious metal.
Gold futures for December fell by 0.5% to settle at $1,776.50 an ounce on the Comex division of the New York Mercantile. Spot gold dipped by 0.7% to $ $1,773.21 per ounce.