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Gold futures settle lower on Friday

27 Feb 2021 Evaluate
Gold futures ended lower for fourth straight session on Friday, registering the lowest finish since June pressured by the firmer green back and on dulled safe haven appeal of the bullion with the optimism over global economic recovery followed by the rising bond yields. The yellow metal for the most active contract logs a weekly decline of 2.7% and a monthly drop of 6% so far this year.

Gold futures for April delivery dipped by 2.6% to settle at $1,728.80 an ounce on the Comex division of the New York Mercantile. Spot gold down 2.5% at $1,726.31 per ounce.