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Gold futures finish higher for the first time in four sessions

10 Nov 2023 Evaluate
Gold futures finished higher for the first time in four sessions on Thursday, kindled by the weakness in dollar and US Treasury bond yield notes. The yellow metal investments also boosted after Federal Reserve chairman Jerome Powel reaffirmed bank’s cautious stance in interest rate hike and pointed that its benchmark rate is high enough to steadily reduce inflation to 2%. Technical buying at three week low rate also buoyed the precious metal.

Gold futures for December delivery rose by $12 or 0.61% to $1969.80 ounce on the Comex division of the New York Mercantile. While, spot gold slipped by $0.67 points or 0.03% to $1,957.88 per ounce.

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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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