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Gold futures finish higher on safe haven appeal

08 Aug 2024 Evaluate

Gold futures finished higher on Wednesday, as the safe haven appeal benefited with the risk aversion amidst high volatility in the stock markets. The yellow metal marked gain after three straight sessional losses. Softer dollar, intensified bets of US interest rate cuts and woes over escalation in the Middle East conflict also lifted the investment appeal of the bullion.

Gold futures for December delivery up by $0.80 or 0.03% to $2,444.40 per ounce on the Comex division of the New York Mercantile. Spot gold rose by $11.45 or 0.48% to settle at $2,394.37 an ounce.