Gold futures finished sharply lower on Friday, retreating from previous session’s record high finish, as the dollar and Treasury bond yields strengthened after new economic data eased the Fed’s urgency to ease monetary restriction. Meanwhile US core and headline PCE price annual inflation remained unchanged in July while personal income and spending expanded from the prior months.
Gold futures for December delivery tumbled by $32.70 or 1.29% to $ 2,527.60 per ounce on the Comex division of the New York Mercantile. While, spot gold down by $18.01 or 0.71% to settle at $2,527.60 an ounce.