Gold futures finished lower on Friday registering a 6 week lower price, saddled by the strength in dollar with the US Federal Reserve’s plans to start interest rate hike in March and rollback its pandemic-era bond purchases. The yellow metal for the most active contract logged a dip of 2% for the week, marking worst week since November.
Gold futures for April wilted by 0.5% or $8.40 to $1786.60 an ounce on the Comex division of the New York Mercantile. While, spot gold fell 0.6% to $1,785.71 per ounce.