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Gold futures finish lower on strong dollar and bonds

09 Jul 2024 Evaluate
Gold futures finished lower on Monday, saddled by the firmness in dollar and bond yield notes ahead to key upcoming inflation figures set to be released on Thursday, which is key to gauge on Federal Reserve interest rate cut timeline. Meanwhile, market also cautiously eyed on Fed Chair Powell's semi-annual testimony before Congress this week. Moreover, safe haven appeal of bullion dulled with the prospects of a ceasefire deal between Israel and Hamas.

Gold futures for August delivery down by $34.20 or 1.44% to $ 2,363.50 per ounce on the Comex division of the New York Mercantile. While, spot gold rose by $7.95 or 0.34% to 2,367.08 an ounce.