Gold futures settled modestly lower on Friday, weighed down by risk appetite in the market boosting investments in US Treasury bond yields and stock indexes. Moreover, safe haven bullion appeal also got dulled with the unexpected jump in September retail sales. However, yellow metal for the most active contract hiked by 0.6% for the week, posting biggest weekly rise since the week ended September 6.
Gold futures for December tumbled by $29.60 or 1.7% to settle at $1,768.30 an ounce on the Comex division of the New York Mercantile. While, spot gold was down by 1.5% to $1,768.38 per ounce.