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Gold futures finish higher on Fed rate cut hope

02 Apr 2024 Evaluate

Gold futures finished higher on Monday as the cooler U.S inflation data signalling a June interest rate cut by the Federal Reserve. Moreover, higher Chinse demand along with intensified geopolitical tensions also boosted yellow metal rates. Gold climbs over 8% so far this year.

Gold futures for June delivery up by $18.7 or 0.83% to settle at $2257.1 per ounce on the Comex division of the New York Mercantile. While, spot gold increased by $0.84 points or 0.04% to $2252.28 ounce.