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Gold futures settle sharply lower ahead to Fed meeting

29 Oct 2022 Evaluate
Gold futures settled sharply lower on Friday, pressured by the strength in dollar and US Treasury bond yields. Moreover, slackened safe-haven bullion bets after rise in US GDP also dulled the rates. Gold for the most active contract logged 1.3% loss for the week.

Gold futures for December tumbled by $20.80 or 1.25% to settle at $ 1644.80 ounce on the Comex division of the New York Mercantile. While, spot gold dipped by $18.45 or 1.11% or $ 1,644.86 per ounce.