Skip to main content

MoneyWorks4Me

Gold futures finish lower ahead to Fed chair speech

25 Aug 2023 Evaluate

Gold futures finished lower on Thursday, snapping gains after four straight sessional advances pressured by the firmness in dollar and US Treasury Bond yield notes. Moreover, intensified bets over continued interest rate hike by Federal Reserve and US Fed Chair Jerome Powell's speech at the Jackson Hole Symposium later in the day dulled non-interest bearish yellow metal investments.

Gold futures for December delivery slipped by $1 or 0.05% to settle at $1947.10 ounce on the Comex division of the New York Mercantile. While, spot gold dipped by $2.76 or 0.14% at $ 1,914.15 per ounce.