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Gold futures settle higher for sixth consecutive session on Thursday

08 Mar 2024 Evaluate
Gold futures settled higher for sixth consecutive session on Thursday, kindled by the weakness in dollar and US Treasury bond yield notes. Moreover, Federal Reserve Chair Jerome Powell’s indication that the central bank might trim interest rates after signs of moderating inflation prove sustainable. Meanwhile, US weekly initial jobless claims came slightly higher than expected, while labor costs for Q4 were revised downwards.

Gold futures for April delivery rose by $7 or 0.32% to settle at $2165.20 per ounce on the Comex division of the New York Mercantile. While, spot gold dipped by $3.16 points or 0.15% to $2,156.82 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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