Gold futures finish sharply lower on Friday, weighed down by the stronger dollar and increased risk appetite in the market amid optimism after the US president-elect proposed a new $1.9 trillion stimulus package to revive the world’s largest economy from the slump caused by corona virus infections. The yellow metal for the most active contract fell about 0.3% this week, marking second straight weekly loss.
Gold futures for February delivery fell by 1.28% or $ 21.50 to settle at $1,829.90 an ounce on the Comex division of the New York Mercantile. Spot gold was down 1% at $1,827.90 per ounce.