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Gold futures settle higher for fourth straight session on inflation woes

23 Oct 2021 Evaluate
Gold futures settled higher for fourth straight session on Friday kindled by the inflation hedge appeal of the bullion as the commodities soared to all-time highs with the looming supply chain chaos. Besides, weaker dollar also lifted yellow metal investments. Meanwhile, gold for the most active contract posted a second straight weekly gain by jumping 1.6% higher compared to previous week.

Gold futures for December rose by $14.4 or 0.8% to settle at $1796.30 an ounce on the Comex division of the New York Mercantile. While, spot gold climbed by 0.6% to $1,793.59 per ounce.