Gold futures finish sharply lower ahead of Fed meeting
Gold futures finished sharply lower, near one- month low, on Tuesday, saddled by the bets on higher for longer Fed interest rates ahead to Fed meeting later this week. The stalled US-Iran peace talks and the ongoing closure of the Strait of Hormuz spurred inflation concerns. Strong dollar also saddled the yellow metal investments.
Gold futures for June delivery tumbled by $85.30 to 1.81% to settle at $ 4,608.40 an ounce on the Comex division of the New York Mercantile. While, spot gold up by $7.53 or 0.16% to $ 4,604.28 an ounce.
