COMMODITY
Gold futures finish near three week low on Monday
Apr-23-2024
Gold futures finished sharply lower on Monday, posts three-week low hit followed by efforts of deescalating Iran-Israel geopolitical tensions. Moreover, possibility of maintaining elevated benchmark interest rates by Federal Reserve for an extended duration also dulled investment appeal of the non-yielding bullion. Meanwhile, market awaited for Friday’s US personal consumption expenditures data of March to gauge on the monetary policy direction.

Gold futures for June delivery tumbled to $67.40 or 2.79% to settle at $2,346.40 per ounce on the Comex division of the New York Mercantile. While, spot gold down by $19.52 points or 0.84% to $2,307.78 an ounce.

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