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Gold futures finish sharply lower on strong dollar

17 Jan 2024 Evaluate
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.