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Gold futures trade higher in early deals on Wednesday

05 Jul 2023 Evaluate

Gold futures traded higher in early deals on Wednesday, with the risk aversion in the market ahead to release of the US Federal Reserve’s latest monetary policy meeting minutes later in the day. US stock market was closed on Tuesday in observance of Independence Day.  Moreover, slide in dollar also pressured the yellow metal rates.

Gold futures for August delivery rose by $2.70 or 0.14% to $ 1932.20 ounce on the Comex division of the New York Mercantile. However, spot gold dipped by $0.46 or 0.02% to $ 1,925.02 per ounce.