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Gold futures settle higher despite strong dollar

03 Jan 2024 Evaluate
Gold futures settled slightly higher on Tuesday, whetted by the bets on interest rate cuts from major central banks this year. Safe haven appeal amidst global economic health concerns and heightened geopolitical tensions in the Middle East. However, rebound in dollar and Treasury bond yield notes capped some gains in the session.

Gold futures for February delivery rose by $1.60 or 0.07% to $2073.40 per ounce on the Comex division of the New York Mercantile. While, spot gold widened by $ 5.90 points or 0.29% to $ 2,064.86 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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