Skip to main content

MoneyWorks4Me

Gold futures finish lower after strong US data

02 May 2023 Evaluate
Gold futures finished lower on Monday, pressured by the robustness in dollar followed by the stronger than expected US manufacturing data. Meanwhile, bets on continued interest rate hikes by Federal Reserve also fuelled the downward trend.

Gold futures for June dip by $6.90 or 0.35% to settle at $1992.20 ounce on the Comex division of the New York Mercantile. While, spot gold fell by $0.42 or 0.02% to $1,982.14 per ounce.