Gold futures settled higher on Friday, rebounding from previous session’s losses, buoyed by the decline in U.S. Treasury yields. Even though, US Fed’s hawkish commentary on further interest rate hikes to tame the soaring inflation capped some gains.
Gold futures for August delivery rose by $5.9 or 0.31% to settle at $1929.6 ounce on the Comex division of the New York Mercantile. Spot gold added by $7.20 or 0.38% to $ 1,921.21 per ounce.