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Gold futures finish sharply higher for second straight session

18 Jul 2024 Evaluate
Gold futures finished higher on Wednesday, kindled by the hawkish comments from Federal officials after June's lower-than-expected inflation boosted confidence in meeting the price growth target. Market projects 98% chance for interest rate cut in September meeting. Weakness in dollar also buoyed green back denominated precious metal buying.

Gold futures for August delivery up by $31 or 1.2% to $2,459.90 per ounce on the Comex division of the New York Mercantile. While, spot gold rose by $8.68 or 0.35% to settle at $2,467.47 an ounce.