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Gold futures settle higher for fifth consecutive session on Tuesday

03 Aug 2022 Evaluate
Gold futures settled for fifth straight session on Tuesday, buoyed by the safe haven appeal of the bullion in midst of global recession woes and on expectations that Central Banks will moderate interest rate hikes. However, stronger dollar and a climbing US Treasury bond yields limited gains in the yellow metal.

Gold futures for December rose by $2 or 0.10% to $1769.00 ounce on the Comex division of the New York Mercantile. Spot gold was up 0.3% at $1,777.79 per ounce.