COMMODITY
Gold futures finish sharply higher for second straight session on Tuesday
May-21-2025
Gold futures finished sharply higher for second straight session on Tuesday, kindled by the weaker dollar followed by the Federal Reserve’s cautious economic outlook and Moody’s downgrade of the US credit rating due to rising debt levels. Moreover, safe haven appeal amidst intensified geopolitical risks with the news that Israel planning strike on Iranian nuclear sites and on President Trump’s mediating on Russia-Ukraine ceasefire talks. Ongoing uncertainty over tariff policies and an upcoming crucial vote on Trump’s major tax reforms also supported precious metal investments.

Gold futures for June delivery surged by $51.10 or 1.58% to settle at $3,284.60 an ounce on the Comex division of the New York Mercantile. While, spot gold higher by $15.79 or 0.48% to $3,305.92 an ounce.

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