Gold futures finished sharply higher on Thursday, extending previous sessional gains supported by the weakness in dollar and on dipping US Treasury bond yield notes. Moreover, heightened expectations that major central banks are to trim down their benchmark interest rates also lifted investment appeal of the bullion. The Federal Reserve kept rates unchanged as widely anticipated and signalled three rate cuts in 2024.
Gold futures for June delivery surged by $24.1 or 1.1% to settle at $2206.50 per ounce on the Comex division of the New York Mercantile. While, spot gold decreased by $7.17 points or 0.33% to $2,174.16 ounce.