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Gold futures settle lower as dollar rebounds

03 Feb 2023 Evaluate
Gold futures settled lower on Thursday, pressured by some profit taking at prevailing levels and on rebound in dollar against its peers. The yellow metal for the most active contract had peaked to intra-day high of more than nine-month rate counting of Federal Reserve’s slower pace of interest rate hike.

Gold futures for April finished slipped by $12.00 or 0.60% to settle at $1930.80 ounce on the Comex division of the New York Mercantile. However, spot gold added by 0.20% or $3.76 to $1,916.48 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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