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Gold futures finish higher on intensifying Middle East tensions

26 Oct 2024 Evaluate
Gold futures finished higher on Friday, buoyed by the safe haven appeal of the bullion with the intensified Middle East tensions after the reports that at least nine Palestinians were killed and several others wounded in an Israeli air strike on Al-Shati. Moreover, uncertainties surrounding the upcoming US presidential election and dovish approach by major central banks also lifted yellow metal investment appeal. The yellow metal for the most active contract marked gain of 0.9% for the week.

Gold futures for December delivery up by $5.70 or 0.21% to settle at $2,754.60 per ounce on the Comex division of the New York Mercantile. While, spot gold added by $11.39 or 0.42% to settle at $2,747.56 an ounce.