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.