Gold futures finished higher on Tuesday, supported by the intensified bets over Federal Reserve interest rate trims ahead to later today’s FOMC minutes and Friday’s Fed Chair Powell's speech at the Jackson Hole Symposium. Cooling inflationary pressures and weakening job market conditions had kindled market hopes that the Fed might cut rates by 100bps in its three remaining decisions this year, boosting investment appeal of the bullion.
Gold futures for December delivery up by $9.30 or 0.36% to $2,550.60 per ounce on the Comex division of the New York Mercantile. While, spot gold rose by $0.92 or 0.04% to settle at $2,514.91 an ounce.