Gold futures finished tad lower on Wednesday, after three straight sessional gains. The yellow metal rates retreated as persisting inflation raised ambiguity over further Fed interest rate cuts. Safe haven appeal of the bullion also dulled after the US new-home sales also unexpectedly surged in August to its fastest pace since early 2022, easing fears of an economic slowdown.
Gold futures for December delivery down by $7 or 0.18% to $3,768.10 an ounce on the Comex division of the New York Mercantile. However, spot gold up by $0.55 or 0.01% to $3,736.71 an ounce.
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