Gold futures finished lower on Tuesday pressured by the firmness in dollar and on bets over more aggressive interest rate hikes by Federal Reserve as part of taming soaring inflation. The yellow metal for the most active contract registered two week lower finish in the session. However, losses were trimmed as the economic slowdown worries looms.
Gold futures for August narrowed $3.60 or 0.20% to $1821.20 ounce on the Comex division of the New York Mercantile. Spot gold shrunk by 0.1% to $1824.65 per ounce.