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Gold futures finish tad lower on rate hike fears

07 Aug 2026 Evaluate
Gold futures finished tad lower on Thursday, saddled by the reignited jitters about inflation and the prospect of an imminent Federal Reserve rate hike.  Escalating tensions in the Strait of Hormuz pushed oil prices higher and a stronger dollar dulled investment appeal of the precious metal.

Gold futures for December delivery down by $5.60 to 0.13% to settle at $4,299.60 an ounce on the Comex division of the New York Mercantile. While, spot gold up by $26.51 or 0.63% to $4,265.93 an ounce.