Gold futures settled lower on Thursday weighed down by a stronger dollar and US Treasury Bond yields ahead to Friday’s key US inflation data. The core consumer price index (CPI) is foreseen to have risen 5.9% on the year, after an annual rise of 6.2% in April. The CPI might influence Federal Reserve’s stance on potential interest rate hike. Higher interest rate dulls investment appeal of the bullion.
Gold futures for August slipped by 0.2% or $3.70 to settle at $1852.80 ounce on the Comex division of the New York Mercantile. While, spot gold down by 0.1% at $1,846.15 per ounce.