Gold futures finished lower on Wednesday, followed by Federal Reserve’s hawkish signal of fewer rate cuts, only two rate cuts in 2025. Additionally, investment appeal of the bullion also dulled with the pickup in dollar and stronger bond yield notes. Meanwhile, market participants closely awaited the upcoming US GDP and PCE inflation data this week.
Gold futures for February delivery down by $8.70 or 0.33% to $2,653.30 per ounce on the Comex division of the New York Mercantile. Spot gold down by $25.80 or 1% to $2,611.15 an ounce.
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