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Gold futures finish sharply lower on Wednesday

03 Mar 2022 Evaluate
Gold futures finished sharply lower on Wednesday, with the technical correction in the bullion after it peaked on supply crunch woes with sanctions on Russia. The yellow metal had notched 13 month high rate in its previous session amid concerns over Russia-Ukraine war. Moreover, the  imminent Russia-Ukraine second-round talks and US Federal Reserve's  stand to rise interest rate this month dulled investment appeal of the bullion.

Gold futures for December down by 1.1% to settled at $1,922.30 an ounce on the Comex division of the New York Mercantile. Spot gold slipped by 1.1% to settle at $1,921.56 per ounce.