Gold futures finished higher on Wednesday, as the investment appeal of the bullion boosted after US Federal Reserve steadied current interest rates and hinted three rate trims in 2024. The Central bank signalled that it might cut the rates by 75 basis points in 2024, more dovish than September’s projections and also forecasted inflation to cool down this year and next. The yellow metal also got buoyed with the weaker dollar and on sliding US Treasury bond yield notes. Policy decisions from ECB and BoE has also been keenly awaited by the precious metal investors for more cues on trend.
Gold futures for February delivery up by $4.10 or 0.20% to $1997.30 per ounce on the Comex division of the New York Mercantile. While, spot gold rose by $3.68 points or 0.18% to $2,031.42 per ounce.