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Gold futures finish higher on Tuesday

31 Jul 2024 Evaluate

Gold futures finished higher on Tuesday, supported by possibility of interest rate cuts by Federal Reserve in September. Besides, softer US dollar and a decline in US Treasury note yields also boosted the precious metal investments. Meanwhile, investors were eyeing on the Federal Reserve policy meeting announcement due later in the day.

Gold futures for August delivery climbed by $27.2 or 1.14% to settle at $2405.00 per ounce on the Comex division of the New York Mercantile. Spot gold up by $9.85 or 0.41% to settle at $2420.63 an ounce.