Gold futures settled higher on Friday, with the dollar retreat and on position taking for the new year. Moreover, lingering fears over surge in Omicron coronavirus variant infections also added the upside. The bullion marked. The yellow metal for the most active contract marked highest finish since November 2019 in the session, while posting weekly rise of 0.9%, monthly gain of 2.9% and 4.1% for the quarter. However, the precious metal marked dip of 3.5% this year, sharpest yearly dip since 2015.
Gold futures for February climbed by $14.50 or 0.8% to finish at $1828.60 an ounce on the Comex division of the New York Mercantile. While, spot gold slightly was up 0.7% at $1,827.51 per ounce.