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Gold futures finish near 7 week lower level on interest rate hike bets

03 Dec 2021 Evaluate
Gold futures finished sharply lower on Thursday, posting a seven week lower rate saddled by the expectations over hawkish measures by Federal Reserve to ebb the inflationary pressure. Besides, risk appetite in the market rose with the view that new Omicron virus won’t cause catastrophic damage to the global economy, pressuring bullion buying.

Gold futures for December fell by 1.2% to settle at $1,762.70 an ounce on the Comex division of the New York Mercantile. While, spot gold was down by 1.1% to $1,764.00 per ounce.

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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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