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Gold futures finish higher ahead to US economic data
Jul-25-2024
Gold futures finished higher on Wednesday, despite stronger dollar as the intensified bets over September Fed interest rate cut ahead of key US economic data bolstered yellow metal investments. The preliminary Q2 GDP figures is due later today, and the June PCE price index report to be released on Friday. Besides, sliding trend in bond yield notes also added the uptrend. Moreover, projections of increased physical demand from India, the world’s second-largest gold consumer, followed by the government's reduction of its gold import tax from 15% to 6%, also buoyed the bullion.

Gold futures for August delivery up by $8.40 or 0.34% to $2,415.70 per ounce on the Comex division of the New York Mercantile. While, spot gold dipped by $21.82 or 0.91% to settle at $2,375.88 an ounce.

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