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Gold futures finish higher for fifth straight session after US PPI data

14 Aug 2024 Evaluate
Gold futures finished higher for fifth straight session on Tuesday, buoyed with the intensified bets over Fed September interest rate cut bets after softer than expected latest US producer price index (PPI) numbers. Additionally, weakness in dollar and bond yield notes coupled with safe-haven appeal amid rising geopolitical tensions kindled yellow metal investments. Market participants closely eyed US CPI data due later in the day for further insights into inflation.

Gold futures for December delivery up by $3.80 or 0.15% to $2,507.80 per ounce on the Comex division of the New York Mercantile. While, spot gold dipped by $4.20 or 0.17% to settle at $2,460.96 an ounce.