Gold futures finished sharply higher on Friday, as the stagnant US retail sales data and the slowdown in figures also provided leeway to initiate Fed interest rate trims. Moreover, strong central banks buying, and safe-haven demand amidst flared up geopolitical tensions in Middle East also buoyed precious metal investments. Softer dollar also encouraged third currency holder investments. The yellow metal for the most active contract extended winning streak to second straight week, with a weekly jump of 1.8%.
Gold futures for June delivery up by $31.90 or 1.33% to settle at $2,417.40 per ounce on the Comex division of the New York Mercantile. While, spot gold rose by $38.36 points or 1.61% to $2,415.22 an ounce.