Gold futures finished higher for fourth straight session on Wednesday, buoyed by the bets on a 25 bps interest rate cut by Federal Reserve at this month’s meeting after Fed Chair Jerome Powell’s recent remarks highlighting signs of a weakening labour market. Further, weaker dollar and slide in bond yield notes also prompted more investments to precious metal. Safe haven appeal also got boosted amidst the escalation of US-China trade conflicts and on prolonged government shutdown.
Gold futures for December delivery up by $38.20 or 0.92% to settle at $4,201.60 an ounce on the Comex division of the New York Mercantile. While, spot gold rose by $26.65 or 0.64% to $ 4,233.91 an ounce.
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