Gold futures traded lower on Friday, as the bets on interest rate hike by Federal Reserve dulled investment appeal of the bullion. Moreover, risk appetite in the market with the intensified diplomacy efforts to end the Russian strike on Ukraine base and profit taking at prevailing levels saddled the yellow metal rates. However, the yellow metal for the most active contract had gained 0.9% for the week.
Gold futures for April fell 0.7% to $1,971.77 on the Comex division of the New York Mercantile. Spot gold fell 0.5% to $1,975.70 per ounce.