Rebounding from previous day’s two-and-half-year low finish, gold futures settled higher on Friday. The yellow metal buoyed with the optimism after University of Michigan estimated a rise in US consumer sentiment and dip in inflation for September. However, the bullion for the most active contract dipped by 2.6% for the week, registering its fourth weekly loss in five weeks.
Gold futures for December added by $6.20 or 0.4% to $1683.50 an ounce on the Comex division of the New York Mercantile. While, spot gold advanced by 0.60% or $ 9.95 to $ 1,675.06 per ounce.