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Gold futures settle higher despite strong dollar and bonds

27 Oct 2023 Evaluate
Gold futures settled higher on Thursday, as the intensified Middle East tensions bolstered safe haven appeal of the bullion. The yellow metal soared higher with the continued bets of Fed holding interest rates at an elevated level followed by the quarter three US economic growth of 4.9%. However, stronger dollar and bond yield notes capped some gains.

Gold futures for December delivery up by $2.50 or 0.12% to $1997.40 ounce on the Comex division of the New York Mercantile. While, spot gold rose by $4.42 points 0.22% to $1,989.13 per ounce.