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Gold futures settle lower as dollar picks up

25 Jul 2023 Evaluate

Gold futures settled lower on Monday, as headwinds dollar and bond yield notes picked up pressuring investment appeal of the bullion. Moreover, accelerated bets over continued interest rate hikes by Federal Reserve also saddled yellow metal rates further. 

Gold futures for August delivery dipped by $4.40 or 0.22% settle flat at its previous close at $1962.20 ounce on the Comex division of the New York Mercantile. Spot gold rose by $6.92 or 0.35% at $1,961.65 per ounce.