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Gold futures finish higher on weak dollar

23 Dec 2021 Evaluate
Gold futures finished higher on Wednesday, as dollar retreated with the woes that surging Omicron Virus infections and increasing restrictions in the economy would saddle the global economic recovery. Further, weakness in the US Treasury Yield Bonds also lifted the investment appeal of the bullion. Yellow metal held back above $1,800 in the penultimate session before a holiday break. Many global markets will be closed on Friday in observance of Christmas.

Gold futures for February rose by 0.8% or $13.50 to settle at $1802.20 an ounce on the Comex division of the New York Mercantile. While, spot gold climbed by 0.7% to $1,801.24 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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