Gold futures finished lower on Tuesday pressured by the upbeat US retail sales data for the month of April and on looming aggressive interest rate hikes by Federal Reserve. Higher interest rates raises opportunity cost for non-yielding bullion. Even though, softer dollar which made the green back denominated bullion cheaper for third currency holders limited some losses.
Gold futures for June jumped by 0.3% at $1,818.90 on the Comex division of the New York Mercantile. Spot gold climbed by 0.5% to $1,815.19 per ounce.