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Gold futures finish higher as Fed cuts interest rate by 50 bps

19 Sep 2024 Evaluate
Gold futures finished higher on Wednesday, after the Federal Reserve's decision of trimming interest rate by 50 bps to address softening inflation and a potential slowdown in the labor market. The yellow metal investments also got kindled on softer dollar and weak bond yields.

Gold futures for December delivery rose $6.20 or 0.23% to settle at $2,598.60 per ounce on the Comex division of the New York Mercantile. While, spot gold up by $3.67 or 0.14% to settle at $2,562.58 an ounce.