Gold futures settled higher on Friday rebounding from previous sessional loss kindled by the lower-than-expected inflation print easing concerns over a sooner-than-expected monetary stimulus tapering. Gold for the most active contract posted a gain of 0.5% for the week followed by three consecutive weekly losses.
Gold futures for August edged higher 0.1% or $1.10 lower at $1,777.80 an ounce on the Comex division of the New York Mercantile. While, spot gold rose by 0.1% to $1,776.96 per ounce.