Gold futures ended higher on Friday posting above key $1800 benchmark for first time in a month’s time, supported by the hedge appeal of the bullion amid concerns over inflation and global economic health. Moreover, weakness in the headwind dollar also lifted yellow metal investment, as it makes the yellow metal cheaper for other currency holders. The yellow metal for the most active contract marked a gain of 1.1% for the week compared to the previous.
Gold futures for February climbed by 0.4% or $6.70 to settle at $1804.90 an ounce on the Comex division of the New York Mercantile. While, spot gold was higher by 0.5% at $ $1,808.30 per ounce.