Gold futures settled tad lower on Friday, though most-active futures contract wilted to its lowest intraday level since late May counting on Federal Reserve’s plans to raise as much as half a percentage point by the year end. Additionally, strength in dollar and US Treasury Bond yield notes also weighed down investment appeal of the precious metal further. The yellow metal for the most-active contract registered a weekly dip of 0.3% after two consecutive weekly gains.
Gold futures for August delivery dipped by 50 cents or 0.1% to settle at $1971.20 ounce on the Comex division of the New York Mercantile. While, spot gold down by $2.16 or 0.11% to $ 1,955.85 per ounce.