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Gold futures settle near two and half year low on Thursday

04 Nov 2022 Evaluate
Gold futures settled near two-and-half year low rate on Thursday as dollar surged higher against its peer currencies followed by hawkish than expected comments from Fed Chairman Jerome Powell. Moreover, positive trend in 10-year Treasury bond yields also pressured yellow metal buying.

Gold futures for December edged lower by $19.10 or 1.2% to settle at $1630.90 ounce on the Comex division of the New York Mercantile. However, spot gold rose by $9.48 or 0.58% or $ 1,638.97 per ounce.