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Gold futures settle lower ahead of central bank meetings

31 Jan 2023 Evaluate
Gold futures settled lower on Monday, on cautious outlook ahead to meeting of US Federal Reserve, Bank of England and European Central Bank, for more clarity on interest rate hike outlook. Higher interests dulls investment appeal of the non-yielding bullion. Besides, firmer dollar also pressured yellow metal buying.

Gold futures for March finished lower by $6.40 or 0.34% to settle at $1930.20 ounce on the Comex division of the New York Mercantile. Spot gold slipped by 0.20% or $3.78 to $1,919.39 per ounce.

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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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