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Gold futures settle lower on Fed interest hike bets

07 Apr 2022 Evaluate
Gold futures settled lower on Wednesday weighed down by expectations over aggressive interest rate hike by the Federal Reserve and on the strength in dollar. The comments by Fed Governor Lael Brainard spurred expectations about hawkish stance by the Central Bank. The yellow metal held near one week lower rate. 

Gold futures for June dipped down 0.2% or $4.4 to settle at $1923.10 per ounce on the Comex division of the New York Mercantile. Spot gold was down by 0.1% to $1,921.60  per ounce.