Gold futures finished higher on Tuesday, as softer than expected retail sales data signalled cooling customer sentiments and spurred Federal Reserve interest rate cut bets. The US Retail sales jumped by 0.1% in May, following a revised 0.2% decline in April, missing the 0.2% forecast. Besides, softer US Treasury bond yield notes also boosted yellow metal investments. Meanwhile, safe haven buying ahead to Thursday’s weekly jobless claims and Friday’s flash purchasing managers' indexes also added precious metal rates.
Gold futures for August delivery up by $17.90 or 0.76% to settle at $2,346.90 per ounce on the Comex division of the New York Mercantile. While, spot gold down by $1.10 or 0.05% to $2,328.36 an ounce.