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Gold futures end higher on Friday, albeit 3rd straight weekly loss

07 May 2022 Evaluate
Gold futures ended higher on Friday, kindled by inflation hedge appeal of the yellow metal and on increasing safe haven appeal amid persisting Ukraine-Russia war. Moreover, weaker dollar and US Treasury bond yields also added the gains in the bullion. The precious metal however registers third straight weekly loss, down by 0.7% this week.

Gold futures for June rose by 0.4% to settle at $1,882.80 ounce on the Comex division of the New York Mercantile. While, spot gold climbed by 0.3% to $1,882.78 per ounce.