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Gold futures finish lower for third consecutive session

19 May 2023 Evaluate
Gold futures finished sharply lower on Thursday extending losing streak to third session, as the headwind dollar soared higher dulling investment appeal of the bullion. Additionally, intensified bets of continued hawkish stance by Federal Reserve also saddled non-interest yielding yellow metal investments. Gold for the most active contract plunged below key $2,000 level this week, as the optimistic comments from US government to reach deal to lift US debt ceiling this week, curtailed safe haven appeal of the bullion.

Gold futures for June down by $25.10 or 1.2% to settle at $1959.80 ounce on the Comex division of the New York Mercantile. While, spot gold up by $6.38 or 0.33% to $ 1,963.93 per ounce.