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Gold futures finish lower on Fed hawkish tone

18 May 2023 Evaluate
Gold futures finished lower on Wednesday, hampered by the firmness in dollar and on hawkish comments from Fed officials amid stubborn inflation figures. The yellow metal for the most active contract extended losing streak to second straight session, marking its lowest settlement in 7 weeks.

Gold futures for June down by $8.10 or 0.4% to settle at $1984.90 ounce on the Comex division of the New York Mercantile. While, spot gold dipped by $0.49 or 0.02% to $ 1,981.35 per ounce.