COMMODITY
Gold futures finish higher on slower than expected Q1 US GDP data
Apr-26-2024

Gold futures finished higher on Thursday after three consecutive losses, kindled by the weakness in US Treasury bond yields and on slower than expected Q1 US GDP data. The US economy rose by 1.6% in the first three months of the new year, down from the projected 2.5%, and previous quarter’s 3.4%. Meanwhile, market eyed on March PCE numbers which is due later in the day for clearer cues on the Fed’s monetary policy outlook. 

Gold futures for June delivery rose to $4.1 or 0.17% to settle at $2,342.50 per ounce on the Comex division of the New York Mercantile. Spot gold up by $2.20 points or 0.09% to $2,334.66 an ounce.


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