MoneyWorks4Me

Gold futures settle lower ahead to inflation data

14 Feb 2023 Evaluate
Gold futures settled lower on Monday marking the lowest finish in five weeks, as the dollar and US Treasury bond yield notes picked up amid caution ahead to much awaited US Consumer Price Index release. The inflation data is seen as a gauge to the Federal Reserve interest rate outlook. Rising interest rates, dollar and bonds dulls the investment appeal of the non-yielding bullion.

Gold futures for April down by $11 or 0.60% to settle at $1863.50 ounce on the Comex division of the New York Mercantile. However, spot gold up by 0.22% or $4.00 to $ 1,857.49 per ounce.

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