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Gold futures settle tad higher on Thursday

16 Jun 2023 Evaluate
Gold futures settled tad higher on Thursday, kindled by the weakness in dollar amid dimmer than expected US jobs data and on reports of subdued US industrial output for May. Moreover, sluggish US Treasury bond yield notes also boosted investment appeal of the bullion. However, Federal Reserve’s new projections that benchmark interest rate might still need a hike by as much as half a percentage point by year end, limited gains in the yellow metal.

Gold futures for August delivery rose by $1.80 or 0.09% to settle at $1970.70 ounce on the Comex division of the New York Mercantile. While, spot gold down by $ 2.16 or 0.11% to $ 1,955.85 per ounce.