Gold futures settled lower at a one-month low on Wednesday, driven by the U.S. Federal Reserve maintaining interest rates and surging inflationary fears from the Strait of Hormuz crisis and ongoing U.S.-Iran and Middle East geopolitical conflict. Moreover, stronger US dollar also diminished the investment appeal of gold.
Gold futures for June delivery fell by $46.9 to 1.00% to $4,561.50 an ounce on the Comex division of the New York Mercantile. Spot gold down by $4.15 or 0.09% to $ 4,543.80 an ounce.
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