Gold futures finished sharply lower on Thursday, marking lowest settlement in two weeks, saddled by the strength in dollar and US Treasury bond yield notes. Additionally, technical correction after recent multi record highs also pressured the yellow metal rates. Meanwhile, investors closely eyed later today’s PCE price data as it is regarded as the Federal Reserve’s preferred inflation gauge, for further monetary policy signals.
Gold futures for April delivery down by $34.70 or 1.20% to $2,895.90 ounce on the Comex division of the New York Mercantile. While, spot gold dipped by $8.28 or 0.29% to settle at $2,869.24 an ounce.