Gold futures settled near five-week low level on Wednesday, as the surge in January US retail number by 3% kindled dollar and dulled the investment appeal of the bullion. Moreover, intensified bets of aggressive Fed interest rate also weighed down the yellow metal investments.
Gold futures for April down by $20.10 or 1.10% to settle at $1845.30 ounce on the Comex division of the New York Mercantile. However, spot gold up by 0.27% or $4.94 to $1,840.95 per ounce.