Gold futures finished sharply lower on Tuesday, due to dampened hopes of Fed benchmark interest rate cuts by March after hawkish remarks from a US Federal Reserve official. Moreover, firmer dollar and 10-year Treasury bond yield notes also discouraged yellow metal investments.
Gold futures for February delivery tumbled by $21.40 or 1.04% to $2030.20 per ounce on the Comex division of the New York Mercantile. While, spot gold down by $4.36 points or 0.21% to $2,024.08 ounce.