COMMODITY
Gold futures settle sharply lower as dollar firms
Jul-31-2021
Gold futures settled sharply lower on Friday, as profit booking and the strength in dollar weighed down the Fed inspired rally. The yellow metal had soared in the previous session after US Federal Reserve Chairman reassured no sudden stimulus tapering as US job market still had some ground to cover. However, the bullion for the most active contract marked an advancement of 0.9% for the week and scored a 2.6% monthly rise.

Gold futures for December tumbled by $18.60 or 1% to settle at $1817.20 an ounce on the Comex division of the New York Mercantile. While, spot gold was lower by 0.8% to $1,814.00 per ounce.
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