Gold futures finish lower on rate hike bets
Gold futures finished lower on Thursday, saddled by the bets over potential central bank rate hikes amidst heightened inflation risks with the soaring energy prices. Escalating US-Iran tensions over the Strait of Hormuz drove energy prices higher. Stronger dollar and firming bond yield notes contributed negative trend in yellow metal rates.
Gold futures for June delivery down by $29 to 0.61% to $4,724.00 an ounce on the Comex division of the New York Mercantile. While, spot gold dipped by $33.89 or 0.72% to $ 4,660.25 an ounce.
