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Gold futures settle sharply lower after Fed minutes

26 May 2022 Evaluate
Snapping four day rally, Gold futures settled significantly lower on Wednesday marking worst dip in 2 weeks. The safe haven appeal of the bullion got dulled after US Federal Reserve signalled flexibility on interest rate hikes. Stronger dollar and Treasury bond yields also weighed down the yellow metal investments. 

Gold futures for June dipped by 1% or $19.10 at $ 1846.30 ounce on the Comex division of the New York Mercantile. While, spot gold declined by 0.2% to $1,849.75 per ounce.