Gold futures settled higher on Wednesday, kindled by the weakness in dollar after Federal Reserve raised interest rates by 25 bps as expected. Moreover, woes over a potential recession also lifted safe haven appeal of the bullion.
Gold futures for August delivery climbed by $6.40 or 0.32% settle at $1970.10 ounce on the Comex division of the New York Mercantile. While, spot gold jumped by $4.97 or 0.25% at $1,977.04 per ounce.