Gold futures finished higher on Friday, boosted by the safe haven appeal of the bullion amidst escalating Middle East geopolitical, uncertainties surrounding the US presidential election and expectations of further interest rate cuts from major central banks. Softness in dollar against its peers and weaker bond yield notes also kindled investment appeal of the bullion. The yellow metal for the most active contract registered 2% gain for the week.
Gold futures for December delivery rose by $22.50 or 0.83% to settle at $2,730.00 per ounce on the Comex division of the New York Mercantile. While, spot gold up by $28.75 or 1.70% to settle at $2,721.46 an ounce.