Gold futures finished higher on Friday, amid continued optimism about the Federal Reserve’s rate cut after it indicated two additional rate cuts this year, with rates forecast in a range of 3.50 percent to 3.75 percent by the end of 2025. Additionally, geopolitical conflicts in the Middle East & Ukraine along with lingering uncertainty about the impact of Trump’s tariffs also buoyed safe haven appeal of the bullion.
Gold futures for December delivery rose by $27.5 or 0.7% to $3705.8 an ounce on the Comex division of the New York Mercantile. While, spot gold up by $41.02 or 1.13% to $3,685.30 an ounce.