Gold futures finished sharply higher on Friday, bolstered by the safe haven appeal of the bullion with the accelerated supply concerns from top producer Russia amid Ukraine-Russia war. Moreover, soaring inflation and the continued rise in Covid-19 infections lifted the yellow metal investments. The Gold for the most active contract logged 4.2% rise for the week, registering biggest weekly gain in one and half years.
Gold futures for April jumped by 1.6% to settle at $1,966.60 on the Comex division of the New York Mercantile. While, spot gold rose by 1.6% to $1,965.97 per ounce.