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Gold futures settle higher on safe haven appeal

28 Oct 2023 Evaluate
Gold futures settled higher on Friday, boosted by the safe haven appeal as Middle East tension intensifies with Israel expanding ground operations in Gaza strip. Moreover, subdued dollar and flat bond yield notes also lifted yellow metal investments. Moreover, the woes over Fed continuing high interest rate for longer period, also raised precious metal gains 0.2% for the week.

Gold futures for December delivery up by $1.10 or 0.05% to $1998.50 ounce on the Comex division of the New York Mercantile. While, spot gold rose by $21.66 points 1.09% to $2,006.37 per ounce.