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Gold futures finish higher after longest losing streak in more than 3 years

08 Jul 2022 Evaluate
Snapping longest losing streak in more than 3 years, Gold futures finished higher on Thursday as the weak dollar made the greenback denominated bullion cheaper for other currency holders. Moreover, short covering at prevailing levels, softer US Treasury bond yields and persisiting worries over global recession lifted the bullion.

Gold futures for August rose by $3.20 or 1.6% to $1739.70 ounce on the Comex division of the New York Mercantile. Spot gold climbed by 0.3% to $1,744.07 per ounce.