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Gold futures settle lower on stronger dollar

04 Aug 2022 Evaluate
Gold futures settled lower for the first time in six sessions on Wednesday, pressured by the strength in dollar and US Treasury bond yields. Moreover, hawkish comments from Federal Reserve also saddled yellow metal investments.

Gold futures for December dipped by $13.30 or 0.7% to $1776.40 ounce on the Comex division of the New York Mercantile. Spot gold rose by 0.2% at US$1,767.97 per ounce.