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Gold futures settle lower on stronger dollar

16 Apr 2022 Evaluate

Gold futures settled lower on Thursday, weighed down by expectations over aggressive interest rate hike by the Federal Reserve with firmness in US dollar and rising Treasury bond yields. However, surging inflation and uncertainty over Russia-Ukraine Crisis limited further losses in the yellow metal.

Gold futures for June dipped $9.8 to settle at $1974.9 per ounce on the Comex division of the New York Mercantile. Spot gold slipped 0.3% at $1,971.40 per ounce.