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Gold futures finish lower after upbeat US economic data

06 Dec 2022 Evaluate
Gold futures finished sharply lower on Monday, as the safe haven appeal of the bullion dented after the release of better than expected U.S. services sector and wage growth data. In addition, strength in dollar and US Treasury bond yields also dulled investment appeal of the non-yielding bullion.

Gold futures for February down by $28.30 or 1.6% to settle at $1781.30 ounce on the Comex division of the New York Mercantile. Spot gold added by $4.39 or 0.25% or $1,773.07 per ounce.