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Gold futures finish higher on safe haven appeal

29 Apr 2023 Evaluate
Gold futures finished higher on Friday, kindled by the safe haven appeal of the bullion amid woes over US banking turmoil. Fears over continued interest rate hikes by Federal Reserve, weak US Treasury bond yields and the subdued dollar also supported yellow metal buying. Gold for the most active contract registered 0.4% gain for the week, and rose by 0.7% for the month.

Gold futures for June rose by $0.1 or 0.01% to settle at $1999.10 ounce on the Comex division of the New York Mercantile. Spot gold jumped by $2.22 or 0.11% to $1,990.00 per ounce.