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Gold futures settle lower after two straight consecutive gains

06 Oct 2022 Evaluate
Retreating from three week high, Gold futures settled lower on Wednesday counting on firmness in dollar and US Treasury Bond yields. The yellow metal investments got pressured on intensified bets about Fed continuing sharper interest rate hikes followed by strong private payrolls report. Technical correction after two day surge also added the downside.

Gold futures for December rose by $9.70 or 0.6% to settle at $1720.80 an ounce on the Comex division of the New York Mercantile. While, spot gold rose by 0.1% to $ 1,718.40 per ounce.