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Gold futures settle higher as dollar, bonds dip

08 Jan 2025 Evaluate
Gold futures settled higher on Tuesday, kindled by the softness in dollar and bond yield notes. The bullion also got support amidst uncertainty over the tariff policy ahead of Trump’s inauguration, and as the PBoC added gold to its reserves for the second consecutive month. Meanwhile, investors keenly eyed on upcoming US jobs data, including the nonfarm payroll report, as well as the latest FOMC minutes, to gauge on monetary policy outlook.

Gold futures for February delivery up by $18 or 0.67% to settle at $2,665.40 ounce on the Comex division of the New York Mercantile. While, spot gold rose by $0.64 or 0.02% to $2,649.23 an ounce.

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