Gold futures finished sharply higher on Friday, as the stronger US December job data spurred optimism that Federal Reserve is almost done with raising rates. Moreover, weaker dollar rates and negative trend in US Treasury bond yields buoyed the investment appeal of the bullion. The yellow metal for the most active contract settled near seven month high rate, while it marked 2.4% gain for the week.
Gold futures for February surged by $29.1 or 1.6% to settle at $1869.70 ounce on the Comex division of the New York Mercantile. While, spot gold up by 1.79% or $32.80 to $1,865.69 per ounce.