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Gold futures finish sharply lower on hawkish Fed bets

16 May 2026 Evaluate
Gold futures finished sharply lower on Friday, as the surging US inflation rates intensified bets that the Federal Reserve might maintain higher interest rate for longer or raise the benchmark rate. Additionally, spike in US Treasury bond yield notes and firming dollar rates dulled investment appeal of the bullion. The yellow metal for the most active contract marked 3.16% loss for the week.

Gold futures for June delivery down by $123.40 to 2.63% to settle at $4,561.90 an ounce on the Comex division of the New York Mercantile. While, spot gold dipped by $111.90 or 2.41% to $ 4,540.08 an ounce.

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