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Gold futures finish higher on interest rate cut hopes

16 Jul 2024 Evaluate
Gold futures finished higher on Monday, as the latest remarks from Federal Reserve Chair Jerome Powell intensified hopes on early interest rate cut. Moreover, softer dollar and bond yield notes also kindled yellow metal investments.

Gold futures for August delivery up by $8.20 or 0.3% to $2,428.90 per ounce on the Comex division of the New York Mercantile. While, spot gold rose by $6.38 or 0.26% to settle at $2,428.65 an ounce.