Gold futures finished lower on Tuesday, pressured by a stronger US Treasury bond yields and as US Federal Reserve is to come up with more hawkish monetary policy by Wednesday. Rising interest rates and stronger US Treasury bond yields dulls investment appeal of the non-yielding bullion. Federal Reserve is widely expected to raise its benchmark interest rate by 75-basis-points at its meeting. Even though, a weaker dollar capped some losses of the bullion.
Gold futures for August down by $8.30 or 0.5% to $1719.10 ounce on the Comex division of the New York Mercantile. Spot gold was lower by 0.5% to $1718.29 per ounce.