COMMODITY
Gold futures finish near seven week low rate
Jun-19-2021
Gold futures finished near seven week lower rate on Friday, logging worst weekly dip since March 2020 of about 5.9% from last week. The yellow metal lost its investment lure after the US currency strengthened to a one year high rate and as the crude oil extended its gains. Federal Reserve’s stance to hike interest rate sooner than expected amid peaking inflation also dulled the bullion appeal.

Gold futures for August dipped by 0.3% or $5.80 at  $1,769.00 an ounce on the Comex division of the New York Mercantile. While, spot gold down 0.61% to $1,762.63 per ounce.

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