Gold futures settled lower on Wednesday, due to the increased risk appetite in the market and as the strength in dollar and bond yields pressured the yellow metal investments. Further, expectations over hawkish monetary policy by the US Federal Reserve in midst of 40 year high inflation rate hike also dulled the bullion’s investment appeal.
Gold futures for June dipped by 0.2% or $3.40 to settle at $1955.60 ounce on the Comex division of the New York Mercantile. Spot gold was down 0.2% at $1,953.21 per ounce.