Gold futures finish lower on strong dollar, bonds
Gold futures finished lower on Monday, saddled by the stronger dollar and rising bond yield notes. Moreover, safe haven appeal of the bullion dulled following reports on US-led efforts to end the war in Ukraine. Meanwhile participants keenly awaited the upcoming Federal Reserve’s annual Jackson Hole symposium, for clues on whether the US central bank will resume cutting interest rates in September.
Gold futures for December delivery down by $4.60 or 0.13% to $ 3,378.00 an ounce on the Comex division of the New York Mercantile. While, spot gold rose by $ 2.20 or 0.07% to settle at $ 3,334.92 an ounce.
