Gold futures finished near an eight-month low on Wednesday, recording a close near the critical $4,000 psychological mark. Bets on a hawkish Federal Reserve monetary policy stance, a stronger U.S. dollar, rising Treasury yields, and diminished safe-haven demand following progress in U.S.-Iran interim peace negotiations weighed considerably on gold prices.
Gold futures for August delivery tumbled by $140.60 to 3.38% to settle at $4,008.80 an ounce on the Comex division of the New York Mercantile. Spot gold dipped by $6.02 or 0.15% to $3,993.39 an ounce.
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