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Gold futures settle lower on stronger dollar

11 Jul 2023 Evaluate

Gold futures settled lower on Monday on stronger dollar and prospects of further interest rate hikes by the U.S. Federal Reserve. Meanwhile, the yellow metal investors keenly awaits for Wednesday's key Federal Reserve monetary policy announcement.

Gold futures for August delivery down by $1.5 or 0.1% to settle at $1931.0 ounce on the Comex division of the New York Mercantile. However, spot gold rose by $4.15 or 0.22% to $1,929.50 per ounce.