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MoneyWorks4Me

Gold futures end higher as dollar dips

12 May 2022 Evaluate
Gold futures ended higher on Wednesday, kindled by the weakness in dollar and on risk aversion with the bearish trend in stock markets followed by the intensified worries over global economic slowdown. The US data had reported higher-than-expected core inflation, excluding items such as oil prices, buoying hedge appeal of the bullion.

Gold futures for June rose by 0.7% or $12.70 to settle at $1853.70 ounce on the Comex division of the New York Mercantile. While, spot gold climbed by added 0.8% to $1,852.79 per ounce.