Gold futures finished higher on Wednesday, kindled by weakness in dollar and on dip in bond yield notes. Moreover, the bullion also gained as the US Federal Reserve maintained its outlook for three interest rate cuts this year. The central bank kept rates unchanged in March as widely expected and continued to signal three rate cuts this year, although they see one less reduction in 2025.
Gold futures for June delivery up by $1.2 or 0.05% to settle at $2182.40 per ounce on the Comex division of the New York Mercantile. While, spot gold increased by $16.59 points or 0.76% to $2,202.98 ounce.