Gold futures settled higher on Friday and touches a two-week high after cooler inflation data. Data showed that annual U.S inflation slowed further below 3% in November. This also raised prospects of interest rate cuts by Federal Reserve early next year. Moreover, weaker dollar rates and falling Treasury yields also buoyed the investment appeal of the bullion.
Gold futures for February delivery up by $17.8 or 0.9% to $ 2069.10 ounce on the Comex division of the New York Mercantile. Spot gold rose by 0.35% to $2053.08 per ounce.