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Gold futures finished tad higher on Friday, posts 1.7% weekly gain

15 Jul 2023 Evaluate
Gold futures finished slightly higher on Friday, extending gaining streak for the fourth straight session as dollar pared its gains and on bets that Federal Reserve is to end its monetary policy tightening cycle. However, the bullion pared some gains in the session as US Treasury bond yield notes advanced dulling investment appeal of the precious metal. Meanwhile, the yellow metal for the most active contract gained about 1.7% for the week.

Gold futures for August delivery eked up by $0.60 or 0.01% to settle at $1964.40 ounce on the Comex division of the New York Mercantile. While, spot gold dipped by $5.30 or 0.27% at $1,955.21 per ounce.