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Gold futures finish lower after upbeat US jobs data

07 Jul 2023 Evaluate

Gold futures finished lower on Thursday, as the upbeat US jobs data spooked bets of more interest rate hikes from the Federal Reserve dulling safe haven appeal of bullion. Moreover, rise in US Treasury bond yield notes pressured the yellow metal investments.

Gold futures for August delivery dipped by $11.70 or 0.60% to settle at $1915.40 ounce on the Comex division of the New York Mercantile. However, spot gold added $0.27 or 0.01% to $1,911.17 per ounce