Gold futures finish sharply lower as bond yields rise

Gold futures finished sharply lower on Tuesday, as the opportunity cost of non-yielding bullion rose with the climbing Treasury bond yields, and on a steady dollar. Increased crude oil rates spurred lingering inflation woes and bets on Fed interest rate hikes saddling yellow metal investments.

Gold futures for December delivery down by $53.10 to 1.18% to settle at $4,420.60 an ounce on the Comex division of the New York Mercantile. While, spot gold up by $23.37 or 0.54% to $4,357.87 an ounce.