Gold futures shake off early gains to finish lower
Gold futures finished lower on Wednesday, giving up early gains seen in the wake of U.S. data showing a slowdown in wholesale inflation and retail sales to finish lower. The end of Federal Reserve tightening is approaching, “but a shallow recession might not be supportive of inflows for gold as that might lead to a stronger dollar,” said Edward Moya, senior market analyst at OANDA. Gold for February delivery
GCG23,
fell $2.90, or nearly 0.2%, to settle at $1,907 an ounce on Comex.
