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Gold futures settle lower on Friday, but logs gain for 2nd straight week

22 Jan 2022 Evaluate
Gold futures settle lower on Friday, though it logged second consecutive weekly gain. The bullion got pressured as the traders eyed on faster interest rate hike and rollout of pandemic-driven stimulus by US Federal Reserve, as the policy meeting is next week. Though, soaring inflation and growing apprehension between Russia and Ukraine, ensured 5.7% weekly gain for the yellow metal’s most active contract.

Gold futures for February down by $10.80 or 0.6% to settle at $1,831.80 an ounce on the Comex division of the New York Mercantile. While, spot gold fell by 0.4% at $1,831.60  per ounce.

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