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Gold futures settle lower on interest hike hopes

14 Jan 2022 Evaluate
Gold futures settled lower on Thursday, snapping fifth consecutive gain. The yellow metal investments got saddled by the accelerated probability of interest rate hike by Federal Reserve after the US producer price index rose by 0.2%. Firmer US bond yields also pressured bullion buying.

Gold futures for February slipped by 0.30% or $5.90 to settle at $1821.40 an ounce on the Comex division of the New York Mercantile. While, spot gold dipped by 0.3% to $1,821.40 per ounce.

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