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Gold futures logs 1st weekly gain in a month, slightly higher on Friday

21 May 2022 Evaluate
Gold futures finished slightly higher on Friday, despite stronger dollar and uptick in US Treasury Bond yields. Snapping four consecutive weekly drops, the yellow metal logged 1st weekly gain in a month, up by 1.8%. Safe haven appeal of the bullion amid recession fears with soaring inflation and supply chain chaos supported the yellow metal rates.

Gold futures for June edged higher by 90 cents to settle at $1842.10 on the Comex division of the New York Mercantile. While, spot gold climbed by 0.2% at $1,838.81 per ounce.