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Gold futures finish lower on dollar strengths

26 Jun 2024 Evaluate

Gold futures finished lower on Tuesday, saddled by the strength in dollar and US Treasury bond yield notes followed by added hawkish remarks from Federal Reserve officials over benchmark interest rate cuts. Moreover, climb of June US business activity to a 26-month high and cooler than expected CPI as well as PPI data also dulled safe haven appeal of the bullion.

Gold futures for August delivery down by $13.60 or 0.58% to settle at $2,330.80 per ounce on the Comex division of the New York Mercantile. Spot gold dipped by $1.76 or 0.08% to $2,317.86 an ounce.