Gold futures settled lower on Friday, kindled by the firmness in dollar and as US PCE inflation data rose 2.8% on a year-on-year basis in April, matching March's advance. Persisting prolonged elevated benchmark interest rates kept pressuring investment appeal of the non-yielding bullion. The yellow metal for the most active contract registered second consecutive weekly loss of 0.47%.
Gold futures for August delivery down by $20.70 or 0.87% to $2,345.80 per ounce on the Comex division of the New York Mercantile. While, spot gold declined by $15.74 or 0.67% to $2,327.33 an ounce.