Gold futures finished sharply lower on Friday, as the strong May US employment data reignited chances for continued Fed interest rate hikes dulling investment appeal of the bullion. Even though, the yellow metal for the most active contract gained about 1.3% for the week, marking first gain after three consecutive weekly declines.
Gold futures for August delivery down by $25.90 or 1.2% to settle at $1960.60 ounce on the Comex division of the New York Mercantile. While, spot gold dipped by $29.64 or 1.50% to $1,947.97 per ounce.