Gold futures settled near one-month low rate on Friday, as the head winds dollar and US Treasury bond yields gained strength followed by hotter than expected US inflation data. Dollar Index is up for the seventh time in eight days, while bond yields peaked to a 14-year high, both dulling investment appeal of the bullion. The yellow metal for the most active contract ebbed 3.5% for the week, registering worst week in 2 months.
Gold futures for December declined $28.10 or 1.7% to settle at $1648.90 ounce on the Comex division of the New York Mercantile. While, spot gold narrowed by $21.90 or 1.31% or $1,644.47 per ounce.