Gold futures finished lower for the seventh straight session on Wednesday, marking the longest losing streak in more than three years. The yellow metal investments got dulled after dollar peaked to a two decade high, making the greenback denominated bullion expensive for other currency holders. Moreover, steep hikes of interest rates by the central banks also pressured investment appeal of the non- yielding bullion.
Gold futures for August lower by $27.40 or 1.6% to $1,736.50 ounce on the Comex division of the New York Mercantile. Spot gold dipped by 1.4% to $1,738.99 per ounce.