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Gold futures end higher on Monday

26 Mar 2024 Evaluate
Gold futures ended higher on Monday, kindled by the investment appeal of the bullion after Federal Reserve signalled three interest rate cuts this year and on diminishing US Treasury bond yield notes. Moreover, safe haven appeal amidst Middle East geopolitical conflicts and Eastern Europe financial market risks. Participants also keenly awaited latest US PCE price index report, which is the Federal Reserve’s preferred inflation gauge.

Gold futures for June delivery up by $16.6 or 0.76% to settle at $2198.20 per ounce on the Comex division of the New York Mercantile. While, spot gold decreased by $0.90 points or 0.04% to $2,170.93 ounce.