Gold futures finished higher on Wednesday after dollar retreated against its peers making the green back denominated bullion cheaper for other currency holders. Moreover, safe haven appeal amidst ongoing geopolitical tensions and bets on Fed interest rate cut by June, despite hotter US inflation added the yellow metal investments. Moreover, caution ahead of Thursday’s US producer inflation, retail sales and weekly jobless claims figures also supported precious metal rates.
Gold futures for April delivery rose by $14.7 or 0.67% to settle at $2180.80 per ounce on the Comex division of the New York Mercantile. Spot gold dipped by $2.04 points or 0.09% to $2,172.37 ounce.