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Gold futures finish sharply lower on strong dollar

26 Jul 2024 Evaluate
Gold futures finished sharply lower on Thursday, pressured by the strength in dollar after US GDP came in better than expected. Meanwhile, PCE inflation report is due later on Friday.

Gold futures for August delivery tumbled by $62.20 or 2.6% to $2,353.50 per ounce on the Comex division of the New York Mercantile. While, spot gold added by $6.70 or 0.28% to settle at $2,371.26 an ounce.