Gold futures finished lower on Wednesday, saddled by the hawkish tone by Federal Reserve. Minutes from the latest Fed meeting indicated that the central bank might retain elevated benchmark interest rates for prolonged period than previously anticipated. Higher interest rate dulls investment appeal of non-yielding bullion.
Gold futures for June delivery declined by $33 or 1.3% to settle at $2392.90 per ounce on the Comex division of the New York Mercantile. While, spot gold down by $6.31 points or 0.27% to $2,372.54 an ounce.