Gold futures finished sharply lower on Thursday, as hawkish signals from the Federal Reserve eclipsed safe-haven support. The precious metal shed its geopolitical premium as energy supply fears subsided, the dollar strengthened, and tensions in the Middle East cooled.
Gold futures for August delivery tumbled by $135.50 to 3.09% to settle at $ 4245.90 an ounce on the Comex division of the New York Mercantile. While, spot gold plunged by $51.53 or 1.22% to $ 4,158.4400 an ounce.