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Gold futures trade lower in early deals on Monday

17 Jul 2023 Evaluate

Gold futures traded lower in early deals on Monday, pressured by the strength in dollar makes the green back denominated yellow metal costlier for other currency holders. However, anticipation of a pause of Federal Reserve’s interest rate hikes amid soft US inflation data capped some losses. 

Gold futures for August delivery down by $8.3 or 0.42% at $1964.4 ounce on the Comex division of the New York Mercantile. Spot gold declined by $2.29 or 0.12% to $1,952.92 per ounce.