Skip to main content

MoneyWorks4Me

Gold futures trade lower amid debt ceiling talks

22 May 2023 Evaluate
Gold futures traded lower in early deals of Monday, pressured by the speculation of a bearish trend in yellow metal after last week’s drop to a six-week low rate. The yellow metal for the most active contract marked fall of 1.9% this week.The precious metal had rebounded on Friday after Federal Reserve Chair Jerome Powel’s dovish comments accelerated bets on interest rate hike pause.
 
Gold futures for June down by $1.60 or 0.08% to $1980.00 ounce on the Comex division of the New York Mercantile. While, spot gold added by $0.45 or 0.02% to $ 1,978.26 per ounce.