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Gold futures finish sharply lower on interest rate hike bets

15 Dec 2021 Evaluate
Gold futures finish sharply lower on Tuesday, saddled by the anticipations over interest rate hike by US Federal Reserve. Higher interest rate is negative for the non-yielding bullion. Gold for the most active contract posted its lowest rate in two weeks.

Gold futures for February declined by 0.9% or $16.00 to settle at $1772.30 an ounce on the Comex division of the New York Mercantile. While, spot gold was dipped by 0.9% at $1,771.66 per ounce.