MoneyWorks4Me

Gold futures settle lower on dollar rebound

17 Mar 2023 Evaluate
Gold futures settled lower on Thursday, as dollar rebounded after billion-dollar lifelines eased bank jitters dulling safe haven appeal of the bullion.  A group of biggest US banks gather a deal for troubled First Republic Bank, while Credit Suisse tapped liquidity support offered by the Swiss National Bank. The yellow metal for the most active contract retreated from previous session’s six week high rate also on bets of continued hawkish Fed policy fears.

Gold futures for April diminished by $8.30 or 0.4% to finish at $1923.0 ounce on the Comex division of the New York Mercantile. However, spot gold added $9.68 or 0.50% to $1,929.20 per ounce.

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