Gold futures ended modestly lower on Wednesday, posting lowest settlement in two weeks as the investment appeal of the bullion faded after US Federal Reserve announced first interest rate hike since 2018 to tackle the surging inflationary pressure. Moreover, stronger US Treasury bond yields also weighed down the bullion rates further.
Gold futures for April dipped by 1.1% or $20.50 to settle at $1909.20 per ounce on the Comex division of the New York Mercantile. While, spot gold shrunk by 0.4% to $1,909.41 per ounce.