COMMODITY
Gold futures finish higher on dovish central banks
Oct-17-2024
Gold futures finished higher on Wednesday, whetted by the dovish outlook for major central banks and weaker bond yield notes. Lower bond yields and dip in interest rates make the yellow metal more appealing to investors. The US Federal Reserve is anticipated to deliver rate cuts in its two remaining decisions this year, while ECB is expected to deliver interest rate cut by Thursday. Several major central banks in Asia also have recently lowered rates.

Gold futures for December delivery higher by $12.40 or 0.46% to settle at $2,691.30 per ounce on the Comex division of the New York Mercantile. While, spot gold rose by $ 5.08 or 0.19% to $ 2,678.91 an ounce.

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