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Gold futures finish sharply lower as dollar firms

06 Aug 2024 Evaluate
Gold futures finish sharply lower on Monday, as the perceived safe haven dollar got appreciated followed by recession fears which got spooked with the disappointing economic data and weak corporate earnings. Besides, strength in 10 year Treasury bond yield notes also dulled lustre of yellow metal.

Gold futures for December delivery tumbled by $25.40 or 1.03% to $2,444.40 per ounce on the Comex division of the New York Mercantile. While, spot gold dipped by $2.25 or 0.09% to settle at $2,408.54 an ounce.