Gold futures finished sharply lower on Tuesday, marking the lowest settlement since early December as dollar peaked to 20 year high level. Moreover, the yellow metal lost luster as the aggressive interest hikes by the Central banks increased opportunity cost of non-yielding bullion.
Gold futures for August rose by $37.60 or 2.1% to $1763.90 ounce on the Comex division of the New York Mercantile. Spot gold dipped by 0.2% to $1,807.19 per ounce.