Gold futures settled lower on Wednesday, ahead to Federal Reserve decision to hike benchmark interest rate by 50 basis points as expected. Besides, stronger bond yield notes also dulled investment appeal of the bullion. However, dollar weakness limited losses in the session.
Gold futures for December declined by $6.80 or 0.4% to $1818.70 ounce on the Comex division of the New York Mercantile. Spot gold down by $14.18 or 0.78% or $1,793.14 per ounce.