Gold futures settled slightly higher on Wednesday although it was yellow metal’s lowest intraday level in a week. The bullion had notched as high as $1,794.30 in the session. Trading session for the precious metal was rather thin and counter-intuitive. Advancement in crude oil rates and increasing risk appetite in the global equity market obtruded some selling pressure in the bullion, while softer dollar corroborated some buying in precious metal.
Gold futures for February rose 0.1% or 80 cents to settle at $1,785.50 an ounce on the Comex division of the New York Mercantile. Spot gold was trading unchanged at $1,784.01 per ounce.