Gold futures finish lower on stronger dollar
Gold futures finished lower on Tuesday, saddled by the optimism surrounding trade agreements and on stronger dollar. Rising bond yield notes and tempered Federal Reserve dovish outlook also pressured the yellow metal investments. The tariffs are expected to boost US inflation in the coming months, limiting the outlook for further rate cuts. Meanwhile, investors keenly eyed the release of the June FOMC meeting minutes for more insights into the Fed’s policy stance.
Gold futures for August delivery down by $25.90 or 0.77% to settle at $3,316.90 an ounce on the Comex division of the New York Mercantile. While, spot gold dipped by $5.55 or 0.17% to $3,296.37 an ounce.
