Gold Closes Lower as Inflation Concerns Ease

Gold prices finished lower on Thursday after recent remarks by the Federal Reserve Chair Jerome Powell eased concerns about the rising inflation a sudden change in monetary policy.

The yellow metal’s decline comes a day after finishing at its highest level in about a month.

Gold futures for August delivery decreased by $2.80, or 0.2%, to finish at $1,822.20 per ounce.

Meanwhile, silver futures for September delivery rose by 8.9 cents, or 0.3%, to close at $26.36 per ounce.