Gold futures settled almost unchanged on Friday, with the lack of strong cues and as investment appeal of the bullion dulled with the rise in US Treasury bond yield notes. Additionally, lingering uncertainty of timing and pace of potential interest rate cuts in 2024 also saddled bullion investments. The yellow metal for the most active contract logged loss by 1.06% for the week, first dip after three straight weekly gains.
Gold futures for February delivery settle almost flat at $2049.80per ounce on the Comex division of the New York Mercantile. While, spot gold widened by $1.80 points or 0.09% to $2,045.45 ounce.